Parity, a UK-based VC backed company founded by Ethereum co-founder Dr. Gavin Wood, on Wednesday issued a security alert stating that it has identified a vulnerability in Parity Wallet’s variant of the standard multi-sig contract.
“Any user with assets in a multi-sig wallet created in Parity Wallet prior to 19/07/17 23:14:56 CEST,” were affected, Parity said.
According to data from Etherscan.io, 150,000 ETH (approximately $30 million) have been stolen so far, CoinDesk reported. The vulnerability was mitigated and white hackers were able to recover 377,000 ethers that were potentially vulnerable to the problem.
Parity said that the issue resulted from a bug in a specific multi-sig contract known as wallet.sol. It touted the severity of the bug as “critical” and urged affected users to “Immediately move assets contained in the multi-sig wallet to a secure address”.