Share this article
Parity Wallet Hacker Cashes out $90,000 in Stolen Ether
Perpetrators who exploited a flaw in a popular ethereum wallet software yesterday have taken steps to sell their stolen funds.
By Wolfie Zhao
Updated Sep 11, 2021, 1:33 p.m. Published Jul 20, 2017, 5:55 p.m.
Roughly $90,000 in stolen ether confiscated as a result of a bug in a popular ethereum wallet software service yesterday have been cashed out, blockchain data shows.
As reported by CoinDesk, a total of 153,000 ethers were drained on July 19 due to a security bug in multi-signature wallet software offered by the startup, UK-based Parity Technologies. In a blog post yesterday, Parity went so far as to warn users that the bug was "critical," advising them to take steps to safeguard their funds while the issue was resolved.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
However, the stolen funds continue to move. As of press time, 70,000 ethers have exited the hacker's address in seven consecutive transactions, each worth 10,000 ethers.
Data further shows the first transaction (which through two subsequent addresses), successfully cashed out 400 ethers via a cryptocurrency exchange service called Changelly. The price of ether around the transaction time was around $220, making an outflow worth nearly $90,000.
subsequently said in a Reddit thread that it has blacklisted the hacker's root address, but that the amount that has already been exchanged is permanently gone. The startup's involvement is also notable, as it provides a service that matches buyers and sellers of cryptocurrencies with exchanges, calculating the best rates for the user.
As a result, it does not hold funds or take customer information.
The startup further said the hacker used the Tor network to connect to its service, meaning it was not able to trace the IP addresses or the fiat currencies the funds were exchange for.
"It's a dead end," Changelly posted on Reddit.
So far, the commerce platform Swarm City and smart contract platform æternity, both confirmed the loss of over 120,000 ethers from their ends. A third suspected victim, Edgeless Casino, has yet to offer public comment.
Piggybank image via Shutterstock
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Coinbase Sees Crypto Recovery Ahead as Liquidity Improves and Fed Rate Cut Odds Climb
The crypto exchange also took note of a so-called AI bubble that continues to go strong and a weaker U.S. dollar.
What to know:
- Coinbase Institutional is seeing a potential December recovery in crypto, citing improving liquidity and a shift in macroeconomic conditions that could favor risk assets like bitcoin.
- The firm's optimism is driven by rising odds of Federal Reserve rate cuts, with markets pricing in a 93% chance easing next week, and improving liquidity conditions.
- Several recent institutional developments, including Vanguard's crypto ETF policy reversal and Bank of America's greenlighting of crypto allocations, have contributed to bitcoin's rebound from recent lows.
Top Stories
