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Hacker Gets Away with 2.09 Mln EOS Due to Failed Blacklist Update, Huobi Blocks Its EOS Accounts to Find Culprit

  • Yuri Molchan
    📰 News

    An unidentified hacker managed to steal 2.09 mln EOS after a new active BP failed to update the blacklist of mainnet accounts


Hacker Gets Away with 2.09 Mln EOS Due to Failed Blacklist Update, Huobi Blocks Its EOS Accounts to Find Culprit
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The hack happened the other day, as was reported on the ‘EOS Go’ Telegram channel. The post announced that a hacker succeeded in stealing 2.09 mln EOS tokens from a blacklisted account. This is around $7.7 mln. This became possible due to a new BP failing to update the list of frozen hacked accounts.

Hacker Gets Away with 2.09 Mln EOS Due to Failed Blacklist Update, Huobi Blocks Its EOS Accounts to Find Culprit

Details of the attack

The malicious attack took place after the team behind EOS came up with a way to solve the problem of the broken blacklist and made a public proposal. The EOSIO chain enables Block Producers (BP) to put certain accounts on a blacklist.


Most likely, the cause for the hack is a new BP on the network under the nickname ‘games.eos’ that for some reason failed to upload a new version of the blacklist for the EOS mainnet accounts, thus enabling the culprit to do his dirty job.

The proposal says that EOS BPs have to put an account on a blacklist in order for this list to work appropriately. The ‘loophole’ in the blacklist provides a BP with a veto power to interfere with the 15/21 DPOS consensus.

Should a BP forget or simply avoid updating the blacklist on its node, this BP would be neglecting the decision made by 15/21. This may allow any hacker to take advantage of the accounts blacklisted by the other BPs and transfer crypto from them.

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Hacker-hunting underway, accounts frozen

As soon as the hack occurred, the security team of the Huobi exchange checked the data from the blacklist provided by the EOS Core Arbitration Forum (ECAF) in order to spot any crypto flowing out of the EOS accounts put on the blacklist into Huobi wallets.

As a result, the exchange blocked all accounts on its platform that were linked to that blacklist.

A new security solution

The proposal from EOS also suggests eliminating keys for the accounts on the blacklist instead of allowing a BP to place a veto within the mainnet. The new solution will allow returning an account to its initial owner. This seems much easier than working with the blacklist.

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Bitcoin's April 2 Breakout Was Reportedly Orchestrated by One Trader


Bitcoin's April 2 Breakout Was Reportedly Orchestrated by One Trader
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It’s been over two weeks since Bitcoin’s astronomical surge on Apr. 2, but new theories about what might have caused this bullish uptick continue to pop up. According to crypto-oriented analytical firm CoinMetrics, that epic surge was causes by a single trader.

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Mammoth-size trades

CoinMetrics claims that ‘a single committed trader’ concocted a plan to push the BTC price, and he successfully managed to do that by picking the time of the day when the global liquidity is at its lowest level.


(Source: CoinMetrics.io)

(Source: CoinMetrics.io)  

The report also suggests that the trader started to execute his plan on HitBTC (500,000 USDT were traded for Bitcoin prior to the price movement). After that, large trades were observed on Coinbase and Bitfinex.      

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Focusing on the future

Meanwhile, as reported by U.Today, another theory states that the rapid price surge was triggered by the expiration of the CME futures contracts and heavy spot and over-the-counter buying. One expert went as far as claiming that a simple April joke about the Securities Exchange Commission (SEC) could do the trick.

While no one is quite sure about what could have triggered the short-living rally, there is even a bigger disconnect when it comes to Bitcoin price predictions. While some share their bullish predictions for 2019, another report states that it could take 22 years for Bitcoin in order to match its current ATH of $20,000.

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