Parity releases critical security alert to users

06 Jun, 2018
by Michael De La Rouge
Parity releases critical security alert to users

Parity Technologies released a warning statement to all users of the client, telling the users to complete the updates to ensure transactions will continue getting signed. 

The bug comes from problems with the nodes on the Ropsten network. The issue is consensus related meaning it could have led to a chain split in the blockchain, if the majority of the hashpower was derived from the affected nodes. Some users still are not out of the woods yet since they need to upgrade the clients ASAP. 

This critical alert is alarming since Parity has already had its fair share of issues including the 150,000 ETH heist last year and a newbie developer accidentally locking up 513,000 ETH.

Parity released a statement on its blog stating this bug could in fact spread and infect the Ethereum network as a whole. Any user who is faced with the bug will not be able to interact with the Ethereum Blockchain and the transactions will not get signed, states Cointelegraph

Parity also states any business or person running these clients must upgrade immediately or the network will become infected. This includes Ethereum Classic as well. 

Having major issues such as these will not only ruin investor confidence for Ethereum if the bug spreads, it will also ruin Parity Technologies since the company will not be able to keep up with this 'snowball'. 

The team is still trying to determine how to get the locked up funds back to the users. 

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