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153k Ether Stolen in Parity Multi-Sig Attack

etherscan.io

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Re: 153k Ether Stolen in Parity Multi-Sig Attack

#21

Post by grandalf »

finnh wrote: post #11

I've posted this before [0], but it's still apropos regarding the foolishness that is Ethereum. [Ethereum] only makes sense if all of the following obtain: (a) the code is 100% bug-free (b/c accidents cannot be rewound) (b) all code-writers are 100% honest (their code does what they say) (c) all contract participants are 100% perfect code readers (so as to not enter into fraudulent contracts) (Strictly speaking, only…

Not really true. Nothing has to be perfect if there is insurance infrastructure. People should not use contracts they have no reason to trust.

As a contract becomes more important it should be viewed/vetted/trusted by as many entities as possible. Users of the contract should pay an insurance fee that goes to the vetters, who promise to reimburse in case of unpredictable behavior.

Yes, this means applying some meatspace solutions to Ether. However the smart contract infrastructure itself is ideal for implementing this. Ethereum offers immutability, and blockchains can foster new kinds of trust, but trust still has to grow organically in the ecosystem.

Re: 153k Ether Stolen in Parity Multi-Sig Attack

#25

Post by earlz »

Here's the root error I believe: https://github.com/paritytech/parity/blob/master/js/src/cont...

The initWallet function should have been marked internal, but was instead not marked. Unmarked functions default to public in Solidity, so anyone can call that function and reinitialize the wallet to be under their control

Re: 153k Ether Stolen in Parity Multi-Sig Attack

#28

Post by 52-6F-62 »

samstave wrote: post #20

Forgive me for being harsh: Why is there no "pen-test" phase to any crytocurrency which hits the market. So, let me understand; you're ostensibly smart enough to (perhaps as a body of contributors, even) develop a cryptocurrency offering - yet youre also fucking stupid enough to not have same/wider network of ppl attempt to hack the fuck out of your plan? Does this already occur? or some savant comes and owns them? W…

It has nothing to do with any currency or protocol. It was a broken feature in a piece of software used on the network that was bad. Unfortunately, it was widely used and somebody caught the fault and exploited it.

It's more like a company's open source software allowing somebody to steal your bank password. It doesn't have anything to do with USD or the Fed, or even the bank's larger practices. It has to do with how negligent they were with regard to a particular feature.

Re: 153k Ether Stolen in Parity Multi-Sig Attack

#29

Post by Kenji »

finnh wrote: post #11

I've posted this before [0], but it's still apropos regarding the foolishness that is Ethereum. [Ethereum] only makes sense if all of the following obtain: (a) the code is 100% bug-free (b/c accidents cannot be rewound) (b) all code-writers are 100% honest (their code does what they say) (c) all contract participants are 100% perfect code readers (so as to not enter into fraudulent contracts) (Strictly speaking, only…

Let perfect not be the enemy of good. If you demanded that our currencies like dollars live up to your criteria, we would still be trading goods without currency.

Re: 153k Ether Stolen in Parity Multi-Sig Attack

#30

Post by twblalock »

Kenji wrote: post #29
finnh wrote: post #11

I've posted this before [0], but it's still apropos regarding the foolishness that is Ethereum. [Ethereum] only makes sense if all of the following obtain: (a) the code is 100% bug-free (b/c accidents cannot be rewound) (b) all code-writers are 100% honest (their code does what they say) (c) all contract participants are 100% perfect code readers (so as to not enter into fraudulent contracts) (Strictly speaking, only…

Let perfect not be the enemy of good. If you demanded that our currencies like dollars live up to your criteria, we would still be trading goods without currency.

Dollars don't purport to have a blockchain or immutable transactions. Ethereum does. Ethereum needs to live up to the standards it has set for itself.
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