According to information shared by Cyvers Alerts, the hacker who stole 153,000 ether coins (worth approximately US$30 million at the time) from the Ethereum client software Parity’s Ethereum Wallet in 2017 used Multiple addresses initiated money laundering activities of 3,050 ETH worth approximately US$9 million.
ALERT In 2017, a vulnerability in Parity Multisig Wallet version 1.5+ led to the theft of over 150K ETH, valued at approximately $30M USD at the time.The hacker behind this theft has demonstrated remarkable patience, marking a significant chapter in crypto history. Today,… pic.twitter.com/JPD5nJcmrJ
— Cyvers Alerts (@CyversAlerts) May 13, 2024
As of now, the hacker still holds 83,017 ETH, which is equivalent to US$240 million at the current market price.
The hack dates back to January 2017. According to Parity's description at the time, the vulnerability appeared in the multi-signature (multi-sig) function in Parity Wallet. This function was originally used to ensure the security of Ethereum deposits and withdrawals and was jointly developed by the Ethereum community. A vulnerability emerged after being reorganized by Parity, allowing hackers to reset the ownership of the wallet and change the usage parameters of the wallet, affecting nearly 600 multi-signature wallets.
This article Parity Wallet Hacker Laundered Money and Shipped Money in 2017, Still Holds 240 Million ETH Worth First appeared on Zombit.