Frozen ether from Parity could return in the near future!

Parity said it could unlock its $150 million in missing funds “within the next four to six months.”

According to TechCrunch, co-founders Gavin Wood and Jutta Steiner said that funds were not “lost” and that a future hard fork could release the quarantined Ether.

Steiner stated:

“There are discussions that the issue could be fixed in a general protocol upgrade… probably in the next four to six months.”

As TechCrunch editor Mike Butcher noted, though, the bug that caused this freeze was actually known and had been reported long before it caused this issue. Steiner didn’t disagree, but noted that this issue wasn’t reported as a critical security flaw at the time. “It sounded like a nice-to-have update,” she said.

How upset is Woods about this? It doesn’t seem like he’s too fazed by it. “It’s a long-term savings account for us right now,” he quipped.

Earlier this year, Parity lost about $150 million worth of Ethereum (513,774.16 Ether) when a user accidentally deleted a code library that made Parity’s wallets work. At least 1 million in ETH became frozen — and about $90 million of those were actually from Parity co-founder and Ethereum core developer Gavin Wood’s token sale for its Pokadot blockchain technology.

44 points

Upvote Downvote

Total votes: 0

Upvotes: 0

Upvotes percentage: 0.000000%

Downvotes: 0

Downvotes percentage: 0.000000%

Get the best crypto news straight into your inbox!

Written by Brad Chillum

Robotina – The Integral Power Solution of Tomorrow

AgriTech Meets Crypto ATFS Project Launches Long-Awaited Token Sale