The Parity Wallet Freeze: A $280 Million Lesson in Decentralized Risks

The 2017 Parity Wallet freeze stands as a stark reminder of the critical importance of robust smart contract security, even for established platforms. This incident saw millions in ETH locked away permanently due to an accidental coding error by a single developer. While not a hack, this case study highlights how flawed code can have severe consequences when utilized in decentralized systems.