EOS network compromised, developers already warned
The blockchain network of the cryptocurrency called EOS has been compromised, as stated in the Chinese social media. The breach has been discovered by 360, a massive company that created a eponymous antivirus, and reported to the managers of EOS. They have confirmed the existence of the problem and paused the mainnet until the solution for this issue is found.
Due to unspecified reasons, it has become possible for malefactors to use toxic smart contracts which are accepted by super nodes and thus they open the gates for a massive flood of attacks on other full nodes of the network.
3/ 360: attacker can deploy smart contracts w/ malicious code to EOS super node, which will execute the contract and trigger a security bug. Once the contract is included in a new block, all full nodes including backup nodes, exchges, wallet nodes, are all susceptible to attack.
— cnLedger [Not giving away ETH] (@cnLedger) May 29, 2018
Quite expectedly, the price of EOS has fallen towards $10 from $12 on Monday. The fall can be called drastic if one looks at it in comparison to other local bearish trends of EOS throughout this month. Even though there are no reported financial losses, the news has critically shaken the reputation of the altcoin.
EOS is still #5 on Coinmarketcap, this is a new project even by the standards of the crypto market the first events of which have started to happen only nine years ago. An informative review on the background of this cryptocurrency before this hack can be read on Bitnewstoday.
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