Ethereum slumped on Tuesday when a critical security vulnerability in multi-signature wallet belonging to London startup, Parity Technologies, was triggered on 6th November, paralyzing wallets created after July 19, and freezing tens of millions in ethereum. Parity is the same company whose coding error helped hackers steal $30 million worth of ethereum; on Tuesday, the company admitted it was facing more security problems.

Parity issued a "critical" security alert to inform its users about a bug that got "accidentally" triggered which resulted in freezing more than $280 million worth of ETH, including $90M belonging to Parity's Founder & Ethereum former core developer, Gavin Woods. In the statement, Parity said that it had fixed the vulnerability that led to the original, July hack, but failed to catch and repair another weakness that allows users to rewrite code and take ownership of wallets that don't belong to them. As a result, Bloomberg notes that many users found themselves unable to move funds out of their wallets because important code was deleted.