Another Ether heist resulted in a theft of about $33 million in digital currency

digital currency
Just days after a hacker managed to steal more than $7 million in digital currency using a simple link switch on a website, a second hacker group grabbed even more in a separate incident involving a vulnerability in a digital wallet client. The incident took place between 3 p.m. and 4 p.m. (ET) on Wednesday and affected v1.5 and later versions of Parity Wallet. The problem has since been fixed, but not before hackers stole more than $33 million in Ether.

Digital currency such as Bitcoin and Ether are typically transferred across the internet from digital wallet to wallet using special links. A multi-signature wallet requires the use of multiple keys to authorize a digital currency transaction that requires the authorization of multiple individuals. Ethereum creator Gavin Wood developed Parity Wallet, which can support numerous contracts that require multi-signature transactions in one application.

Parity said on Wednesday that affected users consist of any multi-signature wallet created within Parity Wallet prior to 5:14 p.m. (ET) on Monday. All users are encouraged to move assets contained in those wallets to a secure address. So far, the company has not stated who was affected by the vulnerability but several entities have come forth to publicly disclose their loss stemming from the hack, one of which is peer-to-peer sharing economy Swarm City.

“Bernd Lapp, Business Hive leader noticed that the entire contents of the Swarm City ETH multi-sig wallet had been drained. Bernd checked the receiving address and noticed a few very large transactions had hit the same wallet. We alerted the Ethereum Foundation and multiple developer groups immediately,” states Swarm City.

After an investigation, Swarm City determined that hackers exploited a flaw residing within the code handling multi-signature transactions in Parity Wallet. Overall, the hackers stole more than 153,000 Ether coins from multiple Ethereum-based projects such as Aeternity and Edgeless Casino. Swarm City said it also lost 44,055 Ether coins, which equals out to just over $10 million in cash at the current exchange rate.

But the total Ether depletion could have been a lot worse. Swift City said that a whitelist hacker group used the same exploit to drain many multi-signature wallets to keep the digital currency out of the hackers’ hands. This group managed to save more than 377,000 Ether coins ($86 million) as shown in this Etherscan of their digital wallet.

“White Hat Group(s) were made aware of a vulnerability in a specific version of a commonly used multi-sig contract,” a public note states. “This vulnerability was trivial to execute, so they took the necessary action to drain every vulnerable multi-sig they could find as quickly as possible. Thank you to the greater Ethereum Community that helped finding these vulnerable contracts.”

The wallet of the hackers behind the Ether heist can be found here. The account still has around $19 million worth of Ether, which can only be spent on the Ethereum platform. Those who lost Ether in Wednesday’s heist might want to check with the white hat address to see if the “good guys” saved their coins.

Smart Home

People are stealing Ring doorbells (and it’s no knock-knock joke)

Ring Video Doorbell thefts in a Denver neighborhood raise questions about how much security the smart home devices actually provide. One homeowner and the police have a video of the theft. Here's what to do if your Ring device is stolen.
Mobile

5G’s arrival is transforming tech. Here’s everything you need to know to keep up

It has been years in the making, but 5G is finally becoming a reality. While 5G coverage is still extremely limited, expect to see it expand in 2019. Not sure what 5G even is? Here's everything you need to know.
Digital Trends Live

Jobbatical’s Lauren Proctor discusses the future of jobs for tech experts

Today on Digital Trends Live we had Jobbatical's Lauren Proctor to talk about the future trends for finding tech jobs abroad, including a Digital Nomad Visa, which allows tech experts to travel from country to country much easier.
Gaming

Sony apparently tested dozens of other games for the PlayStation Classic

Data miners found references to dozens of titles in the PlayStation Classic source code. The retro console would have been a much more interesting device if Sony decided to include some of the mentioned games.
Computing

Here's why 64-bit (not 32-bit) dominates modern computing

Today's computing world isn't the same as it once was. With 64-bit processors and operating systems replacing the older 32-bit designs, we look at what 32-bit vs. 64-bit really means for you.
Computing

Microsoft’s Windows 10 updates have been a disaster despite safeguards

After a string of Windows 10 update issues, including severe data loss for a number of users, Microsoft's Corporate Vice President of Windows, Michael Fortin, has spoken out about quality control surrounding Windows development at…
Computing

No more wild goose chase: ‘Duck.com’ now leads to DuckDuckGo instead of Google

DuckDuckGo recently acquired a shorter domain name from fellow search engine competitor Google. As a result, longtime and new DuckDuckGo users can now access the privacy-focused search engine by going to duck.com.
Computing

Samsung Notebook 9 Pen is back with new design, internals and S Pen

Samsung's new Notebook 9 Pen looks to be an ideal Windows 2-in-1 for creators. New features include a modern design, an updated S Pen in the box, and the latest eighth-generation Intel Core i7 processor.
Mobile

Want to watch Netflix in bed or browse the web? We have a tablet for everyone

There’s so much choice when shopping for a new tablet that it can be hard to pick the right one. From iPads to Android, these are our picks for the best tablets you can buy right now whatever your budget.
Computing

Costco members can cut up to $200 off MacBook and iMac price tags

Costco is discounting MacBook Air and MacBook Pro laptops by as much as $200 as part of a members-only sale. It also has deals on select MacBooks and iMacs, with optional Apple Care in most instances.
Computing

Fix those internet dead zones by turning an old router into a Wi-Fi repeater

Is there a Wi-Fi dead zone in your home or office? A Wi-Fi repeater can help. Don't buy a new one, though. Here is how to extend Wi-Fi range with another router you have lying around.
Deals

Here are the best laptop deals for December 2018

Whether you need a new laptop for school or work or you're just doing some holiday shopping for a special someone, we've got you covered: These are the best laptop deals going right now, from discounted MacBooks to on-the-go gaming PCs.
Computing

These are the worst passwords of 2018. Is yours on this list?

Do you use a bad password that makes your online accounts easy to break into? SplashData has compiled a list of the top 100 worst passwords for 2018 and there are quite a few listings that were carryovers from prior lists.
Computing

Go hands-free in Windows 10 with speech-to-text support

Looking for the dictation, speech-to-text, and voice control options in Windows 10? Here's how to set up Speech Recognition in Windows 10 and use it to go hands-free in a variety of different tasks and applications within Windows.