Hacker stole $200k from an application on the EOS blockchain

DarkDays

legendary

Activity: 2030

Merit: 1189

Quote from: alphaHome on September 20, 2018, 04:12:40 AM

The day after the developers called their online gambling application the safest of its kind, it was stolen 40,000 EOS, that is approximately $200,000 at the exchange rate on September 17. Hackers stole money from eosbet Bank because of a vulnerability in its code.

The application was disabled during the investigation, the remaining 463 745 EOS are safe. At the moment the problem in system was eliminated, and the program functions again.

Can you provide a source on this? I doubt it was a bug in the core EOS code, it was more likely faulty programming by the smart contract developer. Most of the time these vulnerabilities are programmed into the app by the developer to exploit later on, all eyes should be on him right now.

KS03

full member

Activity: 330

Merit: 101

Hi I'm KS03

Wow so now not only do I need to pay for a wallet I can be hacked at any point using this POS. yeah ok. I felt this coin was a joke when I had to pay for the wallet. If I have to pay for the wallet and the coin is junk well then maybe this is the short of the century. More centralized garbage. Seems like the big boys want to centralize this thing and take away the privacy aspects.

o_e_l_e_o

legendary

Activity: 2268

Merit: 18771

And ANOTHER EOS hack today: https://theblockchainland.com/2018/09/19/fake-eos-used-to-steal-58000-on-newdex-decentralized-exchange/

This is happening pretty much on a daily basis now. This is one of the most amateur projects I think I've ever seen. You would have to be insane to continue to buy this coin.

ravijadon12jan

newbie

Activity: 98

Merit: 0

Quote from: alphaHome on September 20, 2018, 04:12:40 AM

The day after the developers called their online gambling application the safest of its kind, it was stolen 40,000 EOS, that is approximately $200,000 at the exchange rate on September 17. Hackers stole money from eosbet Bank because of a vulnerability in its code.

The application was disabled during the investigation, the remaining 463 745 EOS are safe. At the moment the problem in system was eliminated, and the program functions again.

These kind of hacks preventing the blockchain or crypto space to grow any further. Every week we have a news of one or the other blockchain being hacked or exchange being hacked and it decreases the trust. People still don't know how to safeguard there investment by storing private key files somewhere safe, it's still a complicated process for most. I think unless these kinds of issues got resolved, crypto space won't mature and investors don't trust in it.

ivannalog814

jr. member

Activity: 182

Merit: 1

Guys do not forget that in the cryptocurrency market no one is insured. The EOS blockchain is still young and has a lot to see in the future. Platform improvements will take place constantly and developers will learn from their mistakes. But it's a shame that such professionals make such blunders !

o_e_l_e_o

legendary

Activity: 2268

Merit: 18771

The second EOS hack this week, after $600,000 was stolen a few days ago: https://www.cryptoglobe.com/latest/2018/09/another-smart-contract-hack-eos-dice-game-pays-single-user-600k-over-36-hour-period/

And there was another EOS hack just a few days before that: https://thenextweb.com/hardfork/2018/09/10/eos-betting-platform-hacked/

Honestly, EOS is a joke. Apparently it's not bad enough to just be a centralized scam entirely designed to make profit for the Block Producers, but it's a completely unsecure centralized scam at that. Seriously, who is still buying this trash?

shinratensei_

legendary

Activity: 3276

Merit: 1029

Leading Crypto Sports Betting & Casino Platform

Quote from: bob3772 on September 20, 2018, 04:14:33 AM

Quote from: alphaHome on September 20, 2018, 04:12:40 AM

The day after the developers called their online gambling application the safest of its kind, it was stolen 40,000 EOS, that is approximately $200,000 at the exchange rate on September 17. Hackers stole money from eosbet Bank because of a vulnerability in its code.

The application was disabled during the investigation, the remaining 463 745 EOS are safe. At the moment the problem in system was eliminated, and the program functions again.

While I'm not a big believer in EOS I don't think this is a major issue. 200k is a small amount in the grand scheme of things and it seems like the vulnerability was quickly identified and resolved which is a positive thing.

Lol if that was a small amount but remember the vulnerability still not yet identified. The worst platform with horrible governance. These guys are amateur lol
Remember when one guy has been discovered a lot of vulnerability on the EOS and he much better than the team creates that crap app.

bob3772

full member

Activity: 415

Merit: 100

Quote from: alphaHome on September 20, 2018, 04:12:40 AM

The day after the developers called their online gambling application the safest of its kind, it was stolen 40,000 EOS, that is approximately $200,000 at the exchange rate on September 17. Hackers stole money from eosbet Bank because of a vulnerability in its code.

The application was disabled during the investigation, the remaining 463 745 EOS are safe. At the moment the problem in system was eliminated, and the program functions again.

While I'm not a big believer in EOS I don't think this is a major issue. 200k is a small amount in the grand scheme of things and it seems like the vulnerability was quickly identified and resolved which is a positive thing.

alphaHome

member

Activity: 117

Merit: 10

https://www.soar.earth/

The day after the developers called their online gambling application the safest of its kind, it was stolen 40,000 EOS, that is approximately $200,000 at the exchange rate on September 17. Hackers stole money from eosbet Bank because of a vulnerability in its code.

The application was disabled during the investigation, the remaining 463 745 EOS are safe. At the moment the problem in system was eliminated, and the program functions again.

Topic: Hacker stole $200k from an application on the EOS blockchain (Read 92 times)