Ethereum, using the Ether token, is now the second biggest cryptocurrency after bitcoin and essentially a cryptocurrency for making cryptocurrencies. Rather than returning the money, however, that simply locked all the funds in those multisignature wallets permanently, with no way to access them. “This means that currently no funds can be moved out of the multi-sig wallets,” Parity says in a security advisory. The lost $300m follows the discovery of bug in July that led to the theft of $32m in ether from just three multisignature wallets. Parity says that it is unable to confirm the actual amount lost, but that the $300m figure is “purely speculative”.

Source: The Guardian November 08, 2017 11:30 UTC