The parity hack
Parity provided a multisig wallet to manage your funds through an Ethereum-based contract. The contract had security flaws which were later exploited to steal the funds stored in it.
The parity wallet was attacked twice, and you will learn more about them and the methods to use to avoid similar attacks in this recipe.
Getting ready
It's expected that you have a basic understanding of the Ethereum blockchain and solidity before stepping through this recipe.
The Remix IDE (https://remix.ethereum.org) can help you quickly test and deploy the contract. Also, you can use any Ethereum client (geth
, parity
, and so on) and the solc
compiler to run this contract.
How to do it...
- A multisig wallet is a smart contract for transferring funds or interacting with other contracts. The transfers are done based on approval frommultipleaddresses.
- You can use the smart contract and the associated library provided by parity as a multisig wallet for managing your funds.
- The library contains an
initWallet...