Parity Not Dare to Unfreeze Its Customers's Millions of Dollars

December 19, 2017

Parity Not Dare to Unfreeze Its Customers's Millions of Dollars

Parity Technologies announced that it would not change Ethereum's blockchain to return hundreds of millions of its customers' frozen funds.

The announcement came a few days after the company outlined four Ethereum protocols that could restore access to $275 million in Ether that was frozen last month due to a vulnerability in the software. The four options detailed in the announcement would entail various changes in the Ethereum software, in particular, in the Ethereum virtual machine (EVM) which translates smart contract commands in code.

Speaking at the Ethereum developers' meeting, Parity's representative Afri Schoedon admitted that the ways to unblock funds proposed by the company were unsuccessful.

Earlier the developers' statement received sharp criticism not only from users of Ethereum, but also from developers of the open-source network. In his blog on December 11, the chief developer of Ethereum, Nick Johnson, warned that code changes could lead to dangerous and unpredictable results.

"Due to the risks and the level of uncertainty around them, I personally cannot recommend any of the four options proposed by the company."

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