Ethereum, a major vulnerability has frozen hundreds of millions of dollars

Today does not seem to be a good day for Ethereum. Tech crunch reports, a vulnerability found with a popular wallet has frozen hundreds of millions of dollars of this cryptocurrency, a second set back in recent months.

Parity Technologies the company that is used as a Wallet service disclosed the issue in their blog about a security alert. That vulnerability issue seems to have affected lot of wallets, the issue as stated by the company could enable the contents of a wallet to be wiped.

It is sad because this is the second time in last few months a major frozen has been disclosed which could potentially cost a lot to Ethereum. This currency is the world’s second highest valued cryptocurrency after Bitcoin with the total market cap of over 27 billion dollars.

As of this moment there are no immediate reports of any lost, stolen coins but it is generally understood that a huge amount of Ethereum is at risk. Parity has issued a statement on Twitter saying

In an another follow-up comment on the main tweet, the company says;

We are working on confirming the exact details and will inform the community as soon as we have them.

Written by Hisham Sarwar

That is all you ever need to know about me but let me warn you, freelancing for me is a journey, certainly not a destination :)