Someone just faked an EOS transaction worth $3 trillion

A transaction of 1 trillion EOS alerted the crypto circles of social media today, causing equal measures of shock and awe, and just a smidgen of FUD… However, much to the relief of almost everyone, the transaction was faked. So what happened?

Just over an hour ago the Twitter account, Whale Alert - known for tracking, and reporting upon large transactions throughout the crypto ecosystem – notified crypto Twitter about an apocalyptically inordinate transaction of 1 trillion EOS, amounting to a USD equivalent of over $3.6 trillion.

The transaction was supposedly made from wallet to wallet:

🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨  1,000,000,000,000 #EOS (3,661,729,952,714 USD) transferred from Unknown wallet to Unknown wallet

Tx: https://t.co/goI2zFyasp

— Whale Alert (@whale_alert) March 11, 2019

The community was quick to respond:

$3T? Am I reading correctly?

— Alpha Horva (@TheHorvath1) March 11, 2019

Whatttttttt

— Koff of crypto (@koff_of_crypto) March 11, 2019

Jeff Bezos clearly all in.

— Frank ฿ Underwood (@CUnderwoo2) March 11, 2019

However, as some keen-eyed crypto aficionados pointed out, this transaction was, of course, impossible.

Big fake transaction , and newbies are going to FOMO

— CryptoXRP Analysis - XRPodcast #XRP / #ETH / #BTC (@Crypto_Progress) March 11, 2019

According to coinmarketcap the current circulating supply of EOS is only 906 million:

https://i.gyazo.com/6fe110c8e406cdfc71f43d0eab63a382.png

Moreover the total supply is just over 1 billion, meaning that this transaction would have been 1000 x the total supply of EOS. Quick math.

This was rectified by Whale alert who realised their mistake, all too late:

Seems something did go wrong. This transaction is not correct. We will try to find the cause of this to prevent it from happening again.

— Whale Alert (@whale_alert) March 11, 2019

After some digging, Whale Alert relayed that and EOS user going by the (tasteful) moniker “fuckhacker.x” managed to create a fake transaction. This was picked up by EOS and removed but not before Whale Alert had broadcast the transaction.

An EOS user named "fuckhacker.x" figured out how to create a large fake transaction, but it seems EOS was able to detect it. Unfortunately, the transaction was broadcasted before it was removed. We have built in an extra check to prevent it from happening again.

— Whale Alert (@whale_alert) March 11, 2019

Read more: Whale Watching: $148m combined BTC whale moves beat out XRP and ETH