The hacker found a hole in the decentralized application and stole 30 thousand tokens EOS

The attacker managed to”win” 30 thousand token EOS, cracking decentralized application with gambling. He attacked the network by means of leased computing power and secured the winning outcome in each round. This earned him the equivalent of 121 thousand dollars.

How did it happen?

As noted by community members on Twitter, the attacker simply switched the terms of the winnings in one of gambling in a decentralized network EOS.

At first he rented a huge amount of computing power to REX — the resource exchange from EOS. Then through manipulation of contract attacked by the hacker managed to “buy” transaction of the majority of other users. Overloading the network, he launched several contracts for decentralized gambling games. However, since the scoring system in applications based on transaction these terms can be manipulated.

And at the time of network congestion, it turned out, that function could only be the attacker and the attacked application. By the way, it prevented developers to stop the attack even after it has been detected. That is fraud to some extent proved to be invulnerable.

Read on: Decentralized apps useless? The results of research and expert opinion.

Users still choose EOS?

EOS ahead of the Ethereum in the number of users of decentralized applications, and the vast majority of this traffic comes through apps for gambling. However, the community has repeatedly suspect that most of the statistics are bots, and the scope of Dapps is experiencing a serious shortage of real users.

Critics also attack the network because of its level of centralization. In turn, project founder Dan Larimer EOS in the beginning of this year why-that took out its aggression on Bitcoin and Ethereum. He at least threatened to”break” the two largest cryptocurrency.

EOS recently took another blow to their reputation: co-founder of Wikipedia Larry Sanger said that the network is “de facto centralized in the hands of the Chinese”. Thus Sanger explained why ceased to work on their own decentralized applications on the platform. Perhaps this has some truth, as the Center of information and development of industry in China (CCID) continues to set EOS on first place in the top 10 cryptocurrencies in the country.

By the way, today EOS is suddenly increased by 8 percent, which in principle coincides with the movement of the altcoins in the top ten. See the schedule in our beautiful ranking cryptocurrency. And don’t forget that cryptodata billionaires there are still a lot of other useful information.

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