Cryptocurrency Hack Trends
Cryptocurrency hack trend has made wallets and exchanges unsafe for keeping cryptocurrency assets. Notably, $1.1 billion in cryptocurrency was stolen during the first six months of 2018.
The hack trend has remained a hydra-headed monster that has continued to wage war against the full institutional adoption of cryptocurrency.
Most countries that have adopted the underlying technology, blockchain without adopting cryptocurrency has found an excuse in the vulnerability of the industry to price manipulations and hacks. This among others has continued to cause the postponement of the Bitcoin ETF approval.
EOS Bet Game Suspicious Activity, A Seeming Hack
Recent suspicious activities around the EOS-based bet game seems to be a form of attack on the network. The EOSBet game has paid out over $600,000 over a 36 hours period. The rare volume of payment should either mark a record-breaking hot streak on the platform or an attack on the EOS-based decentralized betting platform.
In the build-up to the payout, an individual was noticed to have consistently doubled their money through betting on a blockchain dice, After the relevant transactions were made a total of 126,000 EOS that worth $611,000 was sent to one winner over several transactions.
Meanwhile, the authenticity of the transaction has been confirmed by EOSBet that all the payout to the account were legitimate from the platform.
Noteworthy, the frequency of such type of transaction has been noted with another EOS-based betting platform, DEOSGames, a day before, as a malicious smart contract attacked it. This time it was a jackpot payout too often, of 24 times in less than an hour. Fortunately, the attacker was only able to make away with a little amount of EOS worth $26,000.
The integrity of the EOS blockchain platform has come under the scrutiny of recent. Trybe, a content creation ecosystem recently confirmed its user accounts were accessed unauthorized. This led to the retrieval of token that was mistakenly distributed by a botched airdrop. EOS blockchain platform has continued to see broad adoption especially because of its scalability.