U.K.-based startup Parity Technologies is opening lines of communication with users a day after a code vulnerability locked hundreds out of their ethereum wallets.
Issued in an alert Wednesday, the provider of software for the world's second-largest blockchain explained what went wrong and launched a website where users can check their addresses to see if their funds were affected. Parity also posted an email address for users to contact the company.
As of Wednesday afternoon, the wallet-checking website showed that 584 wallets and 573 people have been affected by the exploit. However, it's not clear if this is a final number or if it's simply the latest one that the company has tallied.
Parity was not immediately available for comment.
The security alert goes on to describe how a flaw in the company's code was exploited following a patch in July that fixed a prior vulnerability:
"Unfortunately, that code contained another vulnerability which was undiscovered at the time – it was possible to turn the Parity Wallet library contract into a regular multi-sig wallet and become an owner of it by calling the initWallet function."
The person who discovered the fault did so and then deleted the new wallet, Parity said, in statements that showcase the company's "current understanding" of the incident.
As CoinDesk previously reported, the ethereum community is now seeking to understand how best to respond to the incident, given that a hard fork of the software may be necessary. No other known solutions have been put forward to restore the frozen ether to their owners, though it's possible one could be forthcoming.
According to informal estimates, as much as $150 million worth of cryptocurrency may be currently inaccessible.
Ice cubes image via Shutterstock.
The leader in blockchain news, CoinDesk is an independent media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. Have breaking news or a story tip to send to our journalists? Contact us at email@example.com.
Coinbase Adds First Ethereum Token to Professional Trading Platform
Crypto exchange startup Coinbase is adding the 0x protocol token to its professional trading platform, Coinbase Pro.
Announced Thursday, the exchange said in a blog post that it had begun accepting
SpankChain Says Hacker Returned Stolen Crypto Funds
A hacker who stole 165.38 ETH from the SpankChain platform has returned the funds.
The payment platform focused on the adult industry announced Thursday that the hacker, who stole the funds from th
Korea's Largest Bitcoin Exchange Sells Stake in $350 Million Deal
Bithumb, currently the largest cryptocurrency exchange in South Korea by trading volume, just confirmed it has sold more than 38 percent of its total ownership to a blockchain consortium based in Sing
Nevada's Utilities Agency Eyes Blockchain for Energy Credit System
The Public Utilities Commission of Nevada, a government agency charged with supervising and regulating power utility services in the state, is looking to implement blockchain for its energy credit tra
Fake News Site Used New Zealand Prime Minister to Pump Bitcoin Startup
A fake news site has used the likeness of New Zealand Prime Minister Jacinda Ardern to promote articles on Facebook aimed to pump a crypto startup.
Local media source Stuff reported Friday that sev
FinCEN Blasts Iran's 'Malign' Use of Crypto to Bypass Economic Sanctions
A U.S. regulator is urging domestic exchanges to help prevent the Iranian regime from using cryptocurrency to bypass economic sanctions.
The Financial Crimes Enforcement Network (FinCEN) published
3 Bitcoin Price Factors That Suggest Bears Are in Charge
The prospect of a deeper drop in bitcoin prices has increased, price-volume analysis indicates.
The world's most valuable cryptocurrency, which had been trading sideways since September 22, fell sh
Leading Auction House Christie's to Record Art Sales on a Blockchain
London-based Christie's, one of the oldest and most noted art auction houses in the world, is turning to blockchain tech to securely store sales and provenance data.
The firm, which has a history g