Ethereum Community Votes Down $318 Million Parity Refund Request

Ethereum Community Votes Down $318 Million Parity Refund Request

THELOGICALINDIAN - A weeklong vote in the Ethereum association has been captivated in commendations to whether or not developers should apparatus a application which would restore a disabled arrangement and unfreeze 587 wallets captivation 51377416 ETH currently account almost 318000000 USD After abundant agitation the after-effects are in and the noes accept it

As a bit of background, the Parity multisig library was afraid to the tune of 150,000 ETH in July 2024. Afterward, it relaunched with a new vulnerability, which was exploited in November 2024 by a user who was able to finer booty ascendancy of the library arrangement and “accidentally” abort it.

Afterward, Parity wrote a following blog post, in which it explained:

The advance agreement in catechism is EIP-999, which was opened up on April 4th and “suggests abating the WalletLibrary by a patched adaptation to acquiesce the owners of the abased multi-signature wallets achieve admission to their assets.”


Voting on the angle took abode via a “coin vote,” which acceptable those with afflicted wallets to vote with the arctic ETH by signature. After abundant agitation aural the Ethereum community, the final vote account was expectedly bound — with EIP-999 accepting 330 “no” votes, 300 “yes” votes, and 9 candid “don’t care” votes.

Some may acquisition the close-but-no-cigar aftereffect unsurprising, accustomed the Ethereum community’s history of attrition appear convalescent self-destructed contracts. In the case of EIP-999, Parity’s would be the alone library to accept a application — which has led to the estimation that baronial individuals from Parity are artlessly aggravating to apparatus the change artlessly for their own benefit, as against to benefiting the greater Ethereum association at large.

Ethereum Classic

The abstract agitation over the acknowledgment of absent funds is annihilation new to the Ethereum community. After the DAO hack of $60 actor in June 2016, those in favor of the blockchain’s immutability breach abroad from Ethereum and formed Ethereum Classic — which conspicuously kept the money with the hackers, citation cipher as law.

Do you accede with the voting results? Do you anticipate absent or baseborn funds should be alternate via adamantine forks or software patches in the cryptocurrency space? Let us apperceive in the comments below!

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