Parity Multisig Freeze and Ethereum Fund Recovery Protocol
We at ICONOMI, one of the larger wallets affected by the Parity multisig freeze, want to share our perspective on this topic.
Let's recap what happened:
ICONOMI was launched through an ICO on Ethereum, and our history is closely connected to the Ethereum network. One thing we have always appreciated about Ethereum is its willingness to openly discuss complex edge cases, especially when the outcomes aren’t straightforward or comfortable.
The Parity multisig freeze was not caused by user intent or risk-taking; it was a failure that permanently locked funds belonging to Ethereum early adopters, with no way to recover them. Overlooking that distinction risks treating all losses equally, even when the causes are clearly different.
From ICONOMI’s viewpoint, the proposal from the Locked ETH community is a thoughtful, narrowly focused effort to address an issue that other protocols have already solved, whilst still respecting Ethereum’s principles of immutability, governance, and social consensus. It’s not about setting a broad precedent, but rather about tackling a very specific issue that the community has not yet resolved.
As a crypto assets investment platform, we support this and potential new initiatives/proposals to put in place an “assets recovery protocol” in favour of rightful owners. Any funds recovered from the affected ICONOMI wallet through the EFRP (this or future ones) will be returned to our users and Ethereum early adopters.
We appreciate the work behind this proposal and support ongoing, honest discussions regarding its trade-offs and long-term implications for Ethereum.
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