Wallet bug freezes more than $150 million worth of Ethereum

A bug in Parity, a popular wallet for the cryptocurrency and decentralized application platform Ethereum, may have resulted in more than $150 million worth of ether being permanently frozen. 

The bug affects Parity multi-sig (multi signature) wallets, which require more than one owner to "sign" a transaction before it can go through. An unknown attacker (or a careless developer) has exploited it to effectively destroy a piece of Parity's code, effectively rendering all multi-sig wallets that were created after July 20 completely unusable. 

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