Hacker Manages To Swipe 2.09 Million EOS Following Blacklist Update Failure

by | Feb 26, 2019 | Cryptocurrency, Cryptocurrency News

EOS | Hacked | Blacklist update fail | Huobi

An alleged failed update by an EOS block producer (BP) allowed an anonymous hacker to fling off 2.09 million EOS ($7.7 million) from a hacked account, as reported by EOS block producer EOS42 on Feb. 23.

According to a Telegram post, a feature in the EOS blockchain requires that all top 21 BPs are required to blacklist compromised accounts. Apparently, a new EOS block producer dubbed “games.eos” did not update the blacklist for EOS mainnet accounts on Feb. 22.

The security team of major global crypto exchange Huobi observed detected assets pouring from EOS blacklisted accounts into Huobi accounts, by using blacklist data from EOS Core Arbitration Forum (ECAF). Subsequently, the platform froze the accounts and the associated assets, as per a tweet on Feb. 23.

After the incident, EOS42 made a new proposal that suggests nullifying the keys of blacklisted accounts instead of providing a veto power to a single BP on the EOS mainnet. As per EOS42, nullifying the keys is a more effective option than a “‘broken’ blacklist” as it still allows an account to be saved and returned to its rightful owner.

Capped at 21, the  BPs candidates could replace each other through a constant voting process. EOS24 adds that several accounts have been blacklisted based on ECAF orders in which the victim’s accounts were hacked.

Read more: Russian Official Requests For Extradition Of Alleged Bitcoin Fraudster Alexander Vinnik

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