April 25, 2018 @ 9:01 pm By Cali Haan Yesterday, Ethereum users voted not to patch a smart contract accidentally destroyed by a junior developer at Parity last November. The mistake has frozen access to $360 million dollars worth of client funds held in digital wallets managed by the company.
The contract was reportedly destroyed after the junior developer encountered a software bug. Originally billed as a “smart contract coding company,” Parity.io was started by former Ethereum CTO Gavin Wood in 2015.
The company is said to manage about a quarter of Ethereum’s network nodes. Parity, which now calls itself “the world’s most advanced Ethereum client and user interface” also lost 150,000 client ETH last July in a hack on Parity wallets.
The funds would be worth over $80 million dollars today. According to Coindesk, clients affected by the July hack included a number of firms storing Ethereum raised in recent ICOs (Initial Coin Offerings).
Affected parties included Edgeless Casino, Swarm City, and æternity 587 Parity wallets were frozen in the November incident. Parity is reported to have lost access to $98 million dollars of it own funds raised in an $145 million ICO (Initial Coin Offering). Read more from crowdfundinsider.com…
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