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You're reading from  Ethereum Smart Contract Development

Product typeBook
Published inFeb 2018
Reading LevelIntermediate
PublisherPackt
ISBN-139781788473040
Edition1st Edition
Languages
Solidity
Tools
Ethereum
Concepts
Cryptocurrency
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Author (1)
Mayukh Mukhopadhyay
Mayukh Mukhopadhyay
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Mayukh Mukhopadhyay

Mayukh Mukhopadhyay started his career as a BI developer. After the 2008-09 financial crisis, he was at Tata Consultancy Services for one of their Fortune 500 clients in the telecom sector. Holding a master's in software engineering from Jadavpur University, he is presently working as a data insight developer, where he focuses on applying data science and machine learning to raw telecom equipment logs to generate business insights. He has a varied list of academic interests, ranging from audio signal processing, structural bioinformatics, and bio-inspired algorithms to consciousness engineering. Apart from being an Oracle Certified Specialist, he is a Certified Bitcoin Professional, recognized by C4 (Crypto Currency Certification Consortium). He tries to apply blockchain as a technology to different business domains.
Read more about Mayukh Mukhopadhyay

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Parity hack demystified

Parity (https://parity.io/) is a UK-based, venture capitalist-funded, tech start-up company. They provide an Ethereum client, also called Parity, which has an extensive Ethereum wallet and DApp environment for contract deployment. The entire application is written and compiled in the RUST language. The wallets are multi-sig. Multi-sig wallets, in simple words, are wallets that require at least two separate agreements to spend a token from the wallet. These wallets are supposed to be more secure than normal single-sig wallets.

Unfortunately, on July 19, 2017, three multi-sig wallets were exploited from a total of 596 wallets with similar vulnerabilities. Figure 6.10 shows these compromised accounts in Etherscan, the public Ethereum block explorer. When the Parity team got alerted of this hack, they tackled this situation by forming a "White Hat Group" and used the same vulnerability to siphon all the tokens from the remaining 593 wallets into a safe repository so that...

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Ethereum Smart Contract Development
Published in: Feb 2018Publisher: PacktISBN-13: 9781788473040
© 2018 Packt Publishing Limited All Rights Reserved

Author (1)

author image
Mayukh Mukhopadhyay

Mayukh Mukhopadhyay started his career as a BI developer. After the 2008-09 financial crisis, he was at Tata Consultancy Services for one of their Fortune 500 clients in the telecom sector. Holding a master's in software engineering from Jadavpur University, he is presently working as a data insight developer, where he focuses on applying data science and machine learning to raw telecom equipment logs to generate business insights. He has a varied list of academic interests, ranging from audio signal processing, structural bioinformatics, and bio-inspired algorithms to consciousness engineering. Apart from being an Oracle Certified Specialist, he is a Certified Bitcoin Professional, recognized by C4 (Crypto Currency Certification Consortium). He tries to apply blockchain as a technology to different business domains.
Read more about Mayukh Mukhopadhyay

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