EOS telegram channel reveals a $7m hack from the EOS blockchain

eos blockchain hacked 2 million tokens stolen

The EOS blockchain channel EOS42 has revealed that a hacker was able to get away with a little two million EOS tokens during a hack that came on the 22nd of February, 2019.

The EOS tokens are valued between seven and a quarter to seven and three quarter million dollars ($7.2 – 7.7m). The hack came when one of the twenty-one EOS production chain members failed to update the blacklist. This operational failure left the blockchain vulnerable and prone to attacks.

The vulnerability was thus targeted by the hackers in order to gain necessary control to move the funds placed in the blacklisted accounts. The globally renown exchange Huobi has also confirmed that the funds were moved and blocked by the exchange team.

However, it is unclear how much of the stolen tokens were moved through the exchange Huobi and what other exchanges have done to block the hack attempt. The tweet from Huobi Global exchange account only reveals that their team blocked the accounts receiving EOS from the blacklisted accounts.

On the other hand, EOS blockchain has also taken measures to prevent any future attempts; however, the vulnerability remains to exits. The official statement also reveals that if any one of the twenty one (21) EOS producers would ever fail to update their blacklist, another hack attempt would be possible.

Shawn Du'Mmett

Shawn Du'Mmett

Former IT development and consultant, remote team and collaboration expert, PM, CCO, writer, dreamer, idealist looking to collaborate with global teams on a global teal/turquoise organisation. Shawn's dream is working together openly, to get what writers need and want, and to solve biggest global problems. He is building a collaboration system from the start that everyone can own and define, allowing them to work together, to decide how it works and to their highest ideals.

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