Share this article
'Clear and Loud': Parity to Drop First Bid for Frozen Ether Fix
After critical feedback from the ethereum community, Parity Technologies will not follow-up on any of its proposals for restoring frozen ether funds.
Updated Sep 13, 2021, 7:16 a.m. Published Dec 15, 2017, 7:00 p.m.
Parity Technologies suggested today it may not continue to pursue changes to the ethereum blockchain's software as a way to reclaim hundreds of millions in inaccessible customer funds.
The development comes days after the company outlined four ethereum protocol changes that would restore access to the $275 million in ether frozen last month due to a vulnerability in the software. The four options, detailed in a blog post, entailed varying changes to the ethereum's software – specifically, the ethereum virtual machine (EVM) which translates smart contract commands in code.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Speaking at an ethereum developer meeting today on the subject, Parity spokesperson Afri Schoedon acknowledged that its suggested paths for unlocking the funds were perhaps unsuccessful in achieving a critical mass needed for its ideas to be coded, proposed and accepted on the network.
He said:
"Actually, I don’t want to talk about it, except that one point is that Parity doesn’t want to follow up on the proposals, because we see the feedback was clear and loud."
The comment came after Hudson Jameson, the Ethereum Foundation's communications lead, asked Schoeden about the proposals as part of the meeting's agenda.
In a follow-up conversation, Schoeden, who speaks on behalf of Parity at developer meetings and on public forums, told CoinDesk: "We are not putting any more effort in improving these proposals."
Parity Technologies has yet to make an official statement about its next steps, but shortly after today's developer meeting, the company tweeted that it will be reviewing its options following the response to its blog post.
The post received harsh criticism not only from ethereum users, but also developers of the open-source network. In a Dec. 11 blog post, ethereum core developer Nick Johnson warned that the code changes could result in dangerous and unpredictable outcomes.
"Because of the risks and the level of uncertainty surrounding them, I personally can't recommend any of the four variants of this proposal for adoption," he wrote.
Crumbled paper 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
Every Major Bitcoin Conference Has Seen Prices Fall in 2025, Will Abu Dhabi Be Different?
Bitcoin enters the Abu Dhabi conference near $92K after a year of sell-the-news dips at major events, raising questions about another potential pullback.
What to know:
- Bitcoin enters the MENA 2025 conference around $92K, with traders watching for another event-linked correction.
- All four major bitcoin conferences this year — Las Vegas, Prague, Hong Kong and Amsterdam — coincided with short-term price drops.
- The bitcoin conference in Abu Dhabi arrives this week with bitcoin over $92,000, raising the possibility of another sell the news move.
Top Stories
