$30 Million: Ether Reported Stolen Due to Parity Wallet Breach
A security bug in a major ethereum wallet has resulted in the loss of $30 million in funds.
Smart contract coding company Parity has issued a security alert, warning of a vulnerability in version 1.5 or later of its wallet software.
So far, 150,000 ethers, worth $30 million, have been reported by the company as stolen, data confirmed by Etherscan.io. As reported by the startup, the issue is the result of a bug in a specific multi-signature contract known as wallet.sol. Data suggests the issue was mitigated, however, as 377,000 ethers that were potentially vulnerable to the issue were recovered by white hat hackers.
Parity ranked the severity of the bug as "critical" in its public remarks, urging "any user with funds in a multi-sig wallet" move their funds to a secure address.
According to Parity founder and CTO Gavin Wood, at least three ether addresses have been compromised as a result of the bug.
Writing in the Parity Gitter channel, Wood said:
"There is an effort by the foundation underway to secure funds in other wallets to prevent any further compromises; they will make an announcement in their own time."
On social media, notable blockchain specialists are already weighing in on the situation, with Proof of Existence creator Manual Araoz suggesting that the compromised addresses could potentially belong to notable owners.
Specifically, he identified Edgeless Casino, Swarm City, and æternity – three recent initial coin offering projects built on ethereum – as potentially having been compromised in the thefts.
As of press time, Swarm City had confirmed the loss of 44,055 ETH. Edgeless Casino and æternity have not yet given any official comment.
Overall, it's the latest security setback for an ethereum project in recent days, following a hack on CoinDash in which $10 million was stolen in an ICO earlier this week.
Lock image via Shutterstock
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Exchange Review - March 2025
CoinDesk Data's monthly Exchange Review captures the key developments within the cryptocurrency exchange market. The report includes analyses that relate to exchange volumes, crypto derivatives trading, market segmentation by fees, fiat trading, and more.
What to know:
Trading activity softened in March as market uncertainty grew amid escalating tariff tensions between the U.S. and global trading partners. Centralized exchanges recorded their lowest combined trading volume since October, declining 6.24% to $6.79tn. This marked the third consecutive monthly decline across both market segments, with spot trading volume falling 14.1% to $1.98tn and derivatives trading slipping 2.56% to $4.81tn.
- Trading Volumes Decline for Third Consecutive Month: Combined spot and derivatives trading volume on centralized exchanges fell by 6.24% to $6.79tn in March 2025, reaching the lowest level since October. Both spot and derivatives markets recorded their third consecutive monthly decline, falling 14.1% and 2.56% to $1.98tn and $4.81tn respectively.
- Institutional Crypto Trading Volume on CME Falls 23.5%: In March, total derivatives trading volume on the CME exchange fell by 23.5% to $175bn, the lowest monthly volume since October 2024. CME's market share among derivatives exchanges dropped from 4.63% to 3.64%, suggesting declining institutional interest amid current macroeconomic conditions.
- Bybit Spot Market Share Slides in March: Spot trading volume on Bybit fell by 52.1% to $81.1bn in March, coinciding with decreased trading activity following the hack of the exchange's cold wallets in February. Bybit's spot market share dropped from 7.35% to 4.10%, its lowest since July 2023.
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