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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.
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Alden Baldwin
Journalist, Writer, Editor, Researcher, and Strategic Media Manager: With over 10 years of experience in the digital, print and public relations industries, he has been working with the mantra, Creativity, Quality and Punctuality. In his waning years promises to build a a self sustaining institute that provides free education. He is working towards funding his own startup. As a technical and language editor, he has worked with multiple top cryptocurrency publications such as DailyCoin, Inside Bitcoins, Urbanlink Magazine, Crypto Unit News and several others. He has edited over 50,000+ articles, journals, scripts, copies, sales campaign headlines, biographies, newsletters, cover letters, product descriptions, landing pages, business plans, SOPs, e-books, and several other kinds of content.
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