A hacker spent $ 1,000 in EOS to steal more than $ 110,000 in cryptocurrency through an exploit by the EOS gambling game EOSPlay.
Largest DeFi service used by EOS REX
An alleged bug in EOSPlay enabled the attacker to steal 30,000 EOS using EOS REX, a large decentralized financial service (DeFi) that enables EOS lending in exchange for additional CPU on the EOS blockchain, the crypto-focused publication CryptoSlate reported Dec. September.
According to the report, the hacker used REX to make sure blocks were filled with his transactions so he could win continuously on EOSPlay. As previously reported, EOS REX is by far the largest DeFi platform. According to the DeFi.Review website, 331 million EOS are placed on the platform at the time of going to press.
Citing crypto entrepreneur Jared Moore, the report said the hacker had to spend about 300 EOS ($ 1,200 at press time) to set up the attack, which involved a series of subsequent transactions that resulted in successive profits on the decentralized EOS application (DApp).
Block.One CTO: EOS network not affected
Daniel Larimer, CTO of EOS developer company Block.One, tweeted that the hacking incident did not affect the EOS network, but instead caused network congestion that resulted in a lack of additional bandwidth. He said:
“EOS is working properly. This is no different than when attackers flood Eth or Bitcoin with high-fee transactional spam. The network did not freeze for token holders, there was simply no additional bandwidth available for free use. “
FUD fails as EOS rises above 8%
Meanwhile, some users, including Moore himself, stated that the hack frozen the EOS blockchain, claiming that the network was not usable for either DApps or wallets. Another EOS user reported CPU issues, which indicated the network was under attack. A user on Reddit pointed out that despite claims that the attack stopped the EOS blockchain for an hour, the network remained active, citing data from the EOS block explorer Blocks.io.
Despite the apparent FUD, EOS has seen remarkable growth that day. After hovering around $ 3.70 for some time, the altcoin is up 8.3% in the past 24 hours and was trading above $ 4 at the time of going to press, according to data from Coin360. The coin is posting the biggest gains among the top 20 coins by market capitalization at the time of going to press.
EOS 24-hour price chart. Source: Coin360
As recently reported, EOS is expected to have its first hard fork on September 23rd.
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