New EOS Whistleblower Initiative Announced To Counter Block Producer Governance Corruption

Hacker Wins Jackpot 24 Times Consecutively After Tampering with EOS Betting Platform

A hacker interfered with DEOSBet, which is the EOS-based gambling platform run by DEOSGames. Within less than sixty minutes, the platform made payments twenty four times to one single individual.

A report indicated that in spite of the hacker depositing only 339 EOS, he managed to get away with over four thousand EOS, which is equivalent to approximately $23,640. Apparently, the account was just set up a day before the funds were remitted for betting.

After tracing the transactions through EOS blockchain explorer, the report indicates that the hacker made away with about 200 jackpots, with each of about $1,000 which were paid to the account.

Malicious Contracts

The hacking was confirmed by the DEOSGames on its social media platforms. In a statement, the firm asserted that there are malicious contracts that exploited their contract. In many ways, the hacker created a good stress test for the firm, which will now make considerable enhancements on their contract level.

Apparently, all the wins were rather automatic, with the runningsnail account making deposits worth 10 EOS, which were paid within less than a minute. According to the said report, runningsnail also has several maximum wins, and has also been seen to be trying to tryout other EOS betting application. It seems the hacker is hoping to get other soft targets.

It ought to be noted that the susceptibilities faced seem to be vague, and in essence exceptional to DEOSBet. One clear thing is that it will be known in case the hacking spreads out to all other smart contracts. In as much as the amount might not be much in comparison to other hacks, it is not deniable that such kinds of hacks have become rather common in the recent past.

For the sake of eliminating other potential hacking attacks, bug bounty programs are being established to in order to discover loopholes on the innovative blockchain technology. The programs are used to invite hackers to search out susceptibilities on the blockchain, whereby they are rewarded at the end of the day.

The menace ought to be curbed since it has led to significant loses, with cryptos losing up to $761 million to hackers and thieves.

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