Massive thievery happened due to a bug in Parity’s Ethereum Wallet. Around $30 million was stolen from Parity’s wallet due to the bug. Those Black hat hackers could also steal $75 million more from that wallet but a white hat hackers group saved it. Now the bug has fixed.
Parity gave the warning to the users related to moving their Etherum holding from their wallets to other secure accounts after noticing three transactions which appeared on Etherscan.io. The thievery was of 150,000 coins which have a worth of $30 million at the time.
IMPORTANT: SECURITY ALERT: https://t.co/h5vc0KwAxS Move funds in multi-sig wallet created in Parity Wallet 1.5 or higher immediately.
— Parity Technologies (@ParityTech) July 19, 2017
Those $75 million which was saved by white hat hackers is in control under them. They said that they are working on a vulnerability removed multi-sig and they would return those $75 million after removing the vulnerability.
Only one word was missing from the code due to which this mishappening happened, according to an Ethereum programmer. This incident shows that how much big disaster a single bug can create. Parity and other cryptocurrency’s wallets should work on their bug bounty programs to deal with these or hire some programmers which never create errors (not possible on the earth, hire from Mars).