Proposal to Resurrect Disabled Parity Contract Shut Down

No chance to restore frozen Ether

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There has been week-long voting in regards to the hacked Parity wallets. The vote was about a proposal to restore the wallets which were disabled and also to unfreeze them. The frozen wallets are 587, and they cumulatively hold 513,774.16 Ether which is equal to about 360 million Dollars at the current price. The vote ended with majority voting no which means that the wallet will remain frozen.

Parity problems started last year when one Parity user accidentally killed the parity multisig library. The user activated the vulnerability to be the library owner before self-destructing it. Before the destruction, the library had been fixed and re-deployed with that vulnerability. This had been done after the July hack which saw 150,000 Ethereum stolen.

After the accident freezure of the Ethereum funds Parity wrote to its customers that they were working on Ethereum Improvement Proposal which could have methods to unblock the frozen funds. The EIP-999 proposal presented on April 4th regarding the frozen Ether which suggested restoring the WalletLibrary in a patched version so that the owners of the wallets could access their funds received 330 no votes, 300 yes votes with 9 saying they didn’t care about the outcome.

The voting allowed even those with the deal wallets to vote since it was a coin vote. They were supposed to sign the message. One Reddit user x_ETHEeREAL_X, saying yes would have nothing to do with the community sentiment. According to the user: “Ethereum foundation members are part of parity, and even their own destruction of the Ether wallet and therefore do not be fooled because this has nothing to do with community sentiment.”

The debate about returning stolen funds versus maintaining Blockchain immutability has been there since the hack of DAO in 2016 June. The fork to restore the user’s money led to a split off of Ethereum classic which kept the hacked money. Many crypto enthusiasts believe that the return of the money through a fork should not happen in any case.

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