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Latest Parity Multisig Vulnerability Explained

News from the DIVI Coin Development team on November 7, 2017

  • A vulnerability was found on the Parity Multisig Wallet that has caused roughly 600,000 ETH ($150M USD) to become locked, forever.
  • The Divi Project Multisig wallet is unaffected by the vulnerability.

The Divi team is committed to the safety and security of the funds of our community. The funds raised by Divi are not affected by the Parity multi-signature wallet vulnerability which is reported in news and social media today.

After falling victim to one of the largest ETH hacks in history, Parity deployed another wallet contract that was equally as buggy and contained a function that allowed for the Parity Wallet library contract to be turned into a typical multi-sig wallet, whereby the caller of that function would become the owner.

This happened today, November 6th 2017, by accident, after which a user killed the wallet and wiped the library code, which in turn rendered all Parity multi-sig contracts useless.

This means that currently the funds that were stored in the affected wallets are locked there and cannot be moved.

Divi Project remains unaffected.

Divi reviewed multiple options for our smart contract, and elected not to use a Parity multi-signature wallet for our ICO. We developed our smart contract with the assistance and audit of a third party provider and the Divi community can rest assured that this vulnerability will not impact Divi.

Latest Parity Multisig Vulnerability Explained was originally published in Divi Project on Medium, where people are continuing the conversation by highlighting and responding to this story.

Source     #DIVI Price

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