After going missing for a long time, the person responsible for the famous Parity Multisig Wallet hack has come back and started moving a lot of the stolen money. Since July 2017, this person is suspected of stealing 150,000 Ethereum (ETH) from the wallet’s version 1.5. They started the process by sending 3,050 ETH, which is worth around $9 million, to the platform eXch.
That hacker had not been seen or heard from for seven years after the famous breach. Cyvers Alerts, a service that tracks activity in smart contracts, noticed that they had started working again. The research they did shows that the funds laundering operation uses “multiple consolidated addresses.”
“Ethereum Hacker Controls 83,000 ETH”
Even with this latest move, it turns out that the criminal still has power over an amazing 83,000 ETH, which is worth about $246 million right now. This large amount is only a small part of the total amount stolen in the 2017 attack, when 153,037 ETH was taken from three multisignature contracts connected to the Parity Multisig Wallet. This attack showed holes in the Ethereum environment.
Experts from OpenZeppelin, a top blockchain infrastructure platform, had previously talked about how strong coding standards could help stop these kinds of breaches. In particular, they warned against using the “delegatecall” function as a general forwarding method. This showed how important strict coding styles and standards are in the Ethereum community to stop similar attacks.
Although OpenZeppelin warned that not fixing these vulnerabilities could have “disastrous consequences,” it shows how important it is to be careful and take action to avoid even small mistakes in code.
