In line with a recent official ‘Telegram post‘ by EOS block producer EOS42, an unknown hacker managed to hack around 2.09 Mln EOS [$7.7 Mln] from a hacked account as of an alleged unsuccessful update by an EOS block producer [BP].
The Eos [EOS] blockchain embodies ‘a feature that needs BPs‘ to blacklist compromised accounts; all top twenty one BPs are required to blacklist a particular account so as for the blacklist to operate properly. Just earlier on 22nd Feb., new Eos [EOS] block producer named “games.eos” apparently failed to update the blacklist for Eos [EOS] mainnet accounts.
Moreover, the security team of renowned world-wide cryptocurrency exchange named ‘Huobi’ – employing blacklist data from Eos [EOS] Core Arbitration Forum [ECAF] – detected assets from EOS blacklisted accounts into Huobi accounts. Huobi lately froze the accounts and along with the associated assets, consistent with a tweet on 23rd Feb.
Following the accident, EOS42 made a new proposal, suggesting to nullify keys of blacklisted accounts rather than providing a veto power to single BP on the Eos [EOS] mainnet. As per EOS42, the choice to nullify keys is more practical than a “‘broken’ blacklist” and still permits an account to be saved and returned to its rightful owner.
The number of BPs is capped at twenty one, with BPs candidates able to replace each another via a relentless voting process. Per EOS24, many accounts are blacklisted supporting ECAF orders within which the victim’s accounts were hacked.
EOS, the ‘fourth‘ largest cryptocurrency by market cap, launched its mainnet in June last year, following the completion of its $4 Bln token sales. Commentators have expected Eos [EOS] to compete with Ethereum [ETH] as a protocol with which to build ‘DApps‘ [Decentralized Apps].