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.

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.

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide