Edgeless response to Parity hack

What happened?

2017.07.19 — Parity multi-sig wallets written by Gavin Woods (ex. CTO of Ethereum Foundation) got hacked due to a small bug in the code. Technically speaking, this hack put at risk all the Ethereum tokens which are stored in these multi-signatures. Since Parity is an industry standard, that’s almost every Ethereum project and major crypto exchanges.

And it happened!

How large damage is?

At that night, it all got hacked. Most of ‘multi-sig’ wallets got ‘successfully hacked’ by whitehackers.

Source: https://etherscan.io/address/0x1dba1131000664b884a1ba238464159892252d3a

Unfortunately 3 Ethereum projects did not make it to the white-hack list: Edgeless Casino, æternity and Swarn City.

æternity: https://blog.aeternity.com/parity-multisig-wallet-hack-47cc507d964d

Swarm City: https://press.swarm.city/parity-multisig-wallet-exploit-hits-swarm-city-funds-statement-by-the-swarm-city-core-team-d1f3929b4e4e

and we, the Edgeless Project. We confirm a loss of 26 793 ETH ( 5.6 mill $ ) which are held by the hacker: https://etherscan.io/address/0xb3764761e297d6f121e79c32a65829cd1ddb4d32

What does it mean to Edgeless Project?

Gladly we diversified our funds right after an ICO and we have a sufficient amount to run the project. Additionally we got our funds when ETH was 15$ — 50$ per unit and now ETH price is way much higher which covers our hacked loss. It means our platform launch will be happening in Q3. However, we made some changes in our dapp structure. From now it will be purely ran on EDG tokens, since a large part of our ETH was supposed to be our casino’s bankroll.

That means, if players want to gamble on our platform, they will need to get EDG tokens.

What will you do with Gavin Woods and Parity?

Edgeless, æternity and Swarn City formed a group to address this question. It will be announced in a near future.

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Latest comments
May 28, 2019 12:04 PM
From Edgeless: Thank you for participating in this competition. Before announcing the winners, we want to remind you the rules of this contest. To win for the player, it was necessary to do:- From the 20th of May 2019, deposit 300 EDG or more in one go and play Edgeless Dice. The deposit could be done with EDG, BTC, ETG, XRP, BCH, EOS or any of the other top 170 cryptocurrencies. - Till May 27, at 10 AM GMT +0 write his Edgeless username/ nickname + share your biggest win made with one roll in the comments section under this post. After reviewing all the results, who made a deposit and shared the biggest win, Edgeless would like to announce two winners - Boxter and Pandaontherock. Other participants of this contest did not deposit 300 EDG or more. Boxter and Pandaontherock will share the prize pool of 500 USD. Boxter will receive 65% of the pot, Pandaontherock will receive 35%. More information for winners will be send through emails.
From Edgeless: Thank you for participating in this competition. Before announcing the winners, we want to remind you the rules of this contest. To win for the player, it was necessary to do:- From the 20th of May 2019, deposit 300 EDG or more in one go and play Edgeless Dice. The deposit could be done with EDG, BTC, ETG, XRP, BCH, EOS or any of the other top 170 cryptocurrencies. - Till May 27, at 10 AM GMT +0 write his Edgeless username/ nickname + share your biggest win made with one roll in the comments section under this post. After reviewing all the results, who made a deposit and shared the biggest win, Edgeless would like to announce two winners - Boxter and Pandaontherock. Other participants of this contest did not deposit 300 EDG or more. Boxter and Pandaontherock will share the prize pool of 500 USD. Boxter will receive 65% of the pot, Pandaontherock will receive 35%. More information for winners will be send through emails.
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May 25, 2019 5:20 AM
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May 24, 2019 11:26 AM
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May 23, 2019 3:10 PM
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May 20, 2019 1:30 PM
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