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Smart contract hacks cost millions — this company wants to fix it


Last November, a user accidentally froze around 514,000 ETH (worth approx. $155 million) in Parity, a popular Ethereum wallet. The culprit was a bug in the wallet’s software, which the user in question accidentally triggered. This wasn’t the first incident on the Parity wallet. Only months earlier, another bug in Parity’s software enabled hackers to get away with 150,000 ETH (approx. $30 million). Neither is Parity the only Ethereum application that has suffered from smart contract vulnerabilities. In 2016, in the famous DAO hack, hackers got away with 3.6 million ETH, 15 percent of all Ether in circulation at the…

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