EOS Block Producer EOS42 Finds Hacker Moves Over 2 Million EOS After Blacklist Update Failure
There is an anonymous hacker that was able to move 2.09 million EOS due to a problem related with a failed update to a blacklisted address. The information was released by Cointelegraph making reference toa Telegram post uploaded by EOS block producer EOS42. These 2.09 million EOS are equal to $7.35 million at current prices.
The EOS blockchain works with a feature that requires BPs to blacklist compromised accounts. The top 21 block producers have to blacklist a certain account for it to be frozen. However, there was an EOS block producer called “game.eos” that did not update the blacklist for the EOS mainnet accounts.
According to the security team at Huobi, there were some assets moving from EOS blacklisted accounts into the Huobi exchange. Thus, the crypto platform decided to freeze the accounts that were associated with these assets.
Huobi explained on Twitter that the funds have also been frozen after detecting sudden flows of EOS into the exchange accounts.
On Feb 22 at 17:35 (GMT+8), the Huobi Security team monitored that #ECAF (EOS Core Arbitration Forum) blacklisted accounts had sudden flow of assets into Huobi accounts. These $EOS accounts have subsequently been frozen, including relevant assets related to these accounts.
— HuobiGlobal 🌏 (@HuobiGlobal) February 23, 2019
Due to this situation, EOS42 proposed to nullify the keys of blacklisted accounts rather than providing a veto power to just a single BP on the mainnet. According to the EOS42 BP, it is better to nullify the keys rather than blacklisted accounts that could still use their addresses.
There are 21 block producers on the EOS network. BPs candidates are able to replace each other through a constant voting process. According to EOS24, there are several accounts that have been blacklisted based on ECAF orders.
EOS is one of the largest and most popular networks in the crypto industry. According to CoinMarketCap, EOS is the 4th largest cryptocurrency with a market capitalization of $3.19 billion. Each EOS coin can be bought for $3.52. EOS is only surpassed by Bitcoin (BTC), Ethereum (ETH) and XRP.