$32 million worth of Ethereum Stolen By Hackers

An unknown hacker has just stolen nearly $32 million worth of Ethereum – one of the most popular and increasingly valuable cryptocurrencies – from Ethereum wallet accounts linked to at least three companies that seem to have been hacked.

Reports indicate that this is about the third attack on Ethereum cryptocurrency. CoinDash trading platform was hacked and $7.4 Million worth of Ether stolen and two weeks after an unknown attacker hacked into South Korea cryptocurrency exchange Bithumb and stole more than $1 million in Ether and Bitcoins from user accounts.

Smart contract coding company Parity issued a security alert, warning of a critical vulnerability in Parity’s Ethereum Wallet software, which is described as “the fastest and most secure way of interacting with the Ethereum network.” Exploiting the vulnerability allowed attackers to compromise at least three accounts and steal nearly 153,000 units of Ether worth just almost US$32 million at the current price.

Parity says the vulnerability affected the contract used to create multi-signature Ethereum wallets in Parity version 1.5 or later, warning its users to move their Ether from their in-browser wallets to more secure accounts immediately.

The company has just released an updated version of the Parity software fixing the vulnerability.

Post Author: Churchill Aribodor

Churchill Aribodor is a cyberseurity and management systems expert. He is passionate about cybersecurity and devotes a lot of time raising awareness on secure cyberspace for the good of all. He has consulted, audited and trained professionals in this area. He is a rounded ICT thought leader covering people, process and technology. He can be reached through arihills@hotmail.com

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