The Canadian exchange QuadrigaCX has reported that a problem in its software has caused Ethereum worth 14 million dollars to be blocked.

There are many cryptocurrency exchange houses, although we usually talk about Poloniex because it is the most important and where we move the most. Well, QuadrigaCX, a Canadian cryptocurrency exchange, has lost no less than fourteen million dollars in Ethereum, but this loss of currencies has been due to a technical failure when a blockade has been caused, for the specified sum. This has been communicated by the exchange house that is based in Vancouver, which has occurred due to a failure in a smart contract that had the mission of separating Ethereum and Ethereum Classic, which had to enter the pool's exchange portfolio .

It seems that the contract began to operate when the software was being updated, specifically after May 25. This contract would have stored a whopping 64317.25 ETH, an amount that according to the market prices of this Altcoin, would be around fifteen million dollars. The exchange house has explained that it has happened. It was all due to a problem when going from Geth version 1.5.3 to Geth version 1.5.9, where the contract failed at the time of transferring the capital to your portfolio for a few days. The result has been that the coins have been trapped in this contract, but the failure has now been resolved.

QuadrigaCX has communicated that this failure has not resulted in problems for users and clients of the exchange, without affecting users in their operations with cryptocurrencies and no cryptocurrency blockages were seen, as well as problems in purchases and sales, but yes it would have affected funds and savings significantly. This event is a milestone in the development of the blockchain and the massive adoption of cryptocurrencies, since we are facing a technical problem, of this protocol, causing the blocking of access to a huge amount of money due to the software update.

This problem is important, since it has been carried out in an exchange house, which can cause a significant impact on users who operate under this exchange house. Fortunately, users were not affected, but this makes the event so significant. This also causes the need to guarantee the effectiveness of smart contracts, programmed and automated blockchain addresses to act in a predefined way when information is transmitted.

Source: Reddit