EOS Phishing Hack - 100 Accounts - What Happened?

in #eos4 years ago (edited)

100 Accounts Were Stolen By Hackers
What Happened Next
Find Out How EOS Works Behind The Scenes


Steve Floyd & Eugene from EOS Tribe block producer talk about how this attack was fixed by EOS governance. The arbitration system is not fully implemented yet, so the block producers were in a position where they needed to decide how to move forward.

Steve gets into how the decision was made and what the incentives were.
We talk about some of the plans that were suggested and some other ways it could have been done.
It seems that everything worked very smoothly.

This is a really interesting video that shows a little behind the scenes with Block Producers and the current state of EOS governance. Enjoy my friends.

Much Love,
Brandon @happymoneyman


@happymoneyman Thanks for the video my crypto friend.


That power is scary when you consider bitfinex's block producer receives 35% of its votes from one account and id bet there not alone.

There's never just one cockroach in the kitchen

I guess #Steem isn't so bad in comparison

Steem is a pyramid scheme if you think how its working :)

what's that make Eos when 10 addresses control 50% of it and a very small number rule like 90% of it... a monarchy?

How is that any different from the 10 bitcoin mining pools control 90% of the hashrate,

#bitcoin is immutable meaning transactions cant be changed and users assets cant be seized = Censorship Resistant & Decentralized

Also Bitcoin mining pools make up 10's of thousands of miners #eos is a few hundred

a bi-partisan dictatorship

How can people be supporting this cryptocurrency? An order by a 3rd party unknown by many and elected by none must be obeyed and decline transactions from some addreses without giving any valid reasons at the start? Seriously? This is the cryptocurrency saying "Decentralize everything"? You can't make a comedy this good even if you tried.

Elected by none? You don't know much about EOS, do you?

elected by none he means block producers are the majority holders that vote each other

Thanks, seems like @eirik didn't get the idea. Elections where votes don't count the same are not democratic nor decentralized, which is what EOS was shilling. "Decentralization".

Have you read the white paper??

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Are you really trying to argument something based on a whitepaper in the cryptocurrency world? Ignorance really is bliss.

Ignorance is bliss

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can you explain excatlly which coin you talking about

Jesus christ EOS is the most shilled crypto in a while. It has been a disaster of a launch for a cryptocurrency which raised the maximum ICO at the time of writing with more than 4 Billion USD. It is governed by just a few people who fix things in conference calls and that some have power over other thus governing the blockchain. A blockchain that was supposed to be DECENTRALIZED. How can a blockchain with the motto "Decentralize Everything" be governed by just a handful of people who NOBODY chose? It's just pure comedy what EOS has come to be, without A SINGLE PRACTICAL USE CASE.

Pretty sad , you have to troll instead of giving constructive cristism, yeah is far from perfect we all have to ship in.

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I like how people easily use the word "troll" for things they just don't like. All above was criticism, and it is constructive if it is fixed, it's that easy. Not trolling, just criticism with arguments, learn to take it.

Yeah great to see BP's step up to the plate and take action.. Not everybody is as smart as you are so they got screwed by some idiots..Why you hating??

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No hate. Just saying the a network that went with the motto "Decentralize Everything" is probably one of the more centralized ones there is. And thats just that.

Fair enough is definitely not decentralized as some of us would like for sure...IMO Bitfinex is the big elephant in the room ..

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Sad to see so many trolls

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How has the launch been a disaster. The launch was smooth asf and everything is currently working just fine.

EOS is operating with 0.5 second blocktimes and 0 fees - already it is a game changer.

Are you serious? Please read before posting, it has already been answered. The actual mainnet launch and swap was postponed A PLETHORA of times, and froze for a whole day when bugs were found, and now funds are frozen because a few people said so.

Having less blocktime and zero fees doesn't make a cryptocurrency any better than others. There are already cryptocurrencies with less blocktime and no fees. It doesnt make it better than others, it's just another shitshilled coin which will disappear in no time when people actually realize its totally worthless.

The launching was never postponed - there was no date to when the mainnet would be launch. The only date set was the date where the eos.io software would be fully built.

'froze for a whole day when bugs were found'
It was frozen for a few hours. EOS found a bug, immediately froze the chain and came up with a solution in a matter of hours - no other blockchain can do it that fast. If an error turned up in ethereum - no doubt it would be a long process and would involve a hardfork.

'Having less blocktime and zero fees doesn't make a cryptocurrency any better than others.'
Erm yes it does.
'There are already cryptocurrencies with less blocktime and no fees'
There are no other blockchains in existence with less than 0.5 second block times.

These are the types of people that hate on eos. They have no actual facts to back them up and will lose all their money because they get all their opinions from news titles and youtubers.

Yes, the launch was postponed over two times and when it was launched, it launched without being tested over a testnet before. A thing that MUST be done being the cryptocurrency who raised the largest ICO to date.

Having raised more than 4 billion USD and not having tested on a testnet before launch, thus causing bugs and frozen chain for hours on launch, is extremely sad for a cryptocurrency this big.

Also, it's just plain funny how a currency that goes by the motto "Decentralize Everything" is so EXTREMELY CENTRALIZED that things are fixed over a conference call with a few other people. Sad. You're the one that is just plain shit selling a shitshow such as EOS.

'postponed over two times and when it was launched'
It's working now? You probably weren't around but people like you were saying the same thing for ethereum when it launched months late and had really buggy code on release.

'tested on a testnet '
Are you dumb? Dawn 1.0, 2.0, 3.0 were all testnets running eos.io software. Not to mention to code got audited by multiple companies before June 1st.

Dumbest shit I've ever heard. You have a brain - use it. 21 nodes is much more decentralized than every other coin in the top 10.

Everything you've said is either insignificant and won't effect eos in any way or is just plain wrong.

Compared to what? Bitcoin that can do 5 transactions / second and had $35 transaction fees when transaction volumes went up?

Or compared to Ethereum that is at transaction capacity and can't handle any real applications running on it unless you count CryptoKitties which brought the entire network to it's knees for a small little application?

Or maybe Ripple which........... well the newbs are still trying to figure out the difference between centralized and decentralized? Hmmmmmm

each of those transaction can be batched for 100k's like coinbase does etc and when lighting is fully operational will be exponentially higher

bitcoin fees are being improved on over time current transaction fee is 0.10c

the reason it takes so long is due to being the only truly decentralized crypto adjustments aren't easy to agree upon or implement

for example Segwit took nearly 3 years but improvements drastically improved effecincy reduced and helped tackle the recent DDOSing by means of dust transactions from thousands of btcoincash wallets

bitcoin isnt even at 1% of functionality with 3 significant technologies coming within the next 2 years will give a taste of bitcoins true power

Plus the LN has made huge leaps- many of the Lapps have shows that the LN can work as a microtransaction system.

Pssshhhh. You do realize I have been hearing about how great the lightning network is going to be since Early 2014!?!?!? It is like a broken record of people talking about how awesome the lightning network will be but it never fully shows up.

Bitcoin fees went down because the baby back n00bs got their sculls crushed in when the Mt. Gox trustee dumped on all of us. Now they are history so there isn't as much activity on the network.

This is going to be you when Lightning network is fully functional.

maybe you should learn how bitcoin and lighting work before displaying your lack of experience with illogical statements

Lighting is working since February still testing and growing.

Again Bitcoin is truly decentralized with the most complex cryptography it takes a very long time to design,test,implement and get consensus.

On the supposed Mt Gox dump is a common misconception and a logical fallacy.

Fallacy of the single cause

There are 100's of thousands of users and millions of factors leading to price change not any news not 1 whale or 100 whales can do much to the price would cost 100's of millions if not billions to move the price a few hundred dollars.

The leading causes for the bear market was over-inflated prices last year by 10's of thousands of inexperienced people investing in things they didn't understand believing what ever ICO altcoin had said in there whitepapers and what shills were saying about projects and that magically the prices would never stop rising.

I'm well aware of how Bitcoin and Lightning Network works or doesn't work.

As far as the price goes yeah things were over hyped but all it takes is one vicious death drop to shake everyone's confidence to a point where they aren't bringing more money in. So yes the Mt. Gox trustee causing the $5,900 low really busted people's teeth out.

In MMA all it takes is one blow and no matter how good things are going that could end the fight.

your comments have shown you dont have a clue how bitcoin or markets work

Nah, Actually I have been involved in this space since 2013 and have a computer information system degree and for many years traded stocks and options. I only trade crypto now. It sounds like you are a Bitcoin Maximalist and you are newer to the game and buy into the same narrative that has been repeated for 4 years. During the spike, Bitcoin didn't even work as well as it did in 2013. It was very sad to see and even more disturbing that all the n00bs didn't know any different.

or some kids need to stop crying

Stupid hackers can't stop EOS, minor set back.

How we can get safety against hacking, which is very important for all of us.

no wonder eos suddenly seeing a price drop

crypts are our future

I believe in this token

security holes are the biggest disadvantage, users and especially developers still have to work hard

Will apple buy EOS?

EOS has very good potential for long run

Eugene mentioned 1300 EOS was compromised - not 1300 accounts so the title is incorrect, just to be clear.

Is blockchain technology not safe

#happymoneyman what does the blockchain technology not safe.

hahahaha its not good. really hackers only steal.

Really great video to know about Eos backend but hacking us an important issue to fix

really 1300 accounts it cant be be for EOS I THINK ITS THE BEST WAY TO GO I CHOOSE EOS.

I think EOS developer team should work on it lot to develop

Eos team collected approx 9 bl money which is too much and I think it will be dumped sooner or later if the issue is not resolved ASAP.

Whoa! Just yesterday I was saying that EOS deserved more of my attention. I was thinking more in a positive light. I haven't watched the embedded video yet, but hopefully this isn't as bad as the title conveys.

I am still believing on this project I hope this project have much more practical... Bull run is delay but will be come 🔜

every cryptocurrency has loophole similarly EOS will face early but should solve the problem as early as possible.



Excelente @happymoneyman
Gracias por compartir el material informativo, siempre es oportuno estar al día en los acontecimientos.
Abrazos y éxitos amigos.

Muy suave.png

Excellent @happymoneyman
Thank you for sharing the information material, it is always timely to be up to date.
Hugs and successes, my friends.

sir can explian that waht is EOS

Bitcoin. Eos gazuaa!!!!

Its good to see some negative press for EOS. The hype is too big but if a few mishaps temper the expectations it can grow at a healthy rate.

This post has received a 100.00 % upvote from @booster thanks to: @happymoneyman.

really 1300 accounts it cannot be for EOS I THINK ITS THE BEST WAY TO GO I CHOOSE EOS.

It would be interesting to find out the identity of the hacker.
It is he probably known to many.

Eos is a good coin & they are making new changes in their new projects. hope for the best

EOS is better investment for long term, note my point. They will fix all bugs day by day.

thanks for sharing this video great to know lot in details from you guys :)

Thanks for bringing this to our notice, it will help against future occurrences

Yay!! Crypto Hero's!
Upvoted. Resteemed.
Thanks for you quick response.

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its so frustrating

I guess EOS developers have a lot of work to do, there are too many issues and yes, users must to learn about security for themselves.

Follow me and I follow you back

I don't know why eos wanted to launch buggy platform .... I think they need to do regurious testing Else it's going to hacked and Many user's will loose there's funds.

Eos, was in hurry during its test net launch . How they can be so irresponsible.
Also they were providing very less bounty for finding any bug.

A platform with so many features is more likely to have problems than simple platforms , but EOS is dealing good with all the problems and the future looks bright for EOS.

People don't realize just the power that the voting system has to keep favorable parties in place and take out unfavorable systems. It's a new system so it will take time for many people to get adjusted but I think it has a lot of potential. Whether or not the project is over or under valued depends on how well their system works and accomplishes its goals. If they stay true to their word and can create this ecosystem, then it is at a state of undervaluation as of now.

Thanks for sharing this it was great!

Its better to be true to yourself and stop pretending to be some else in which you are slowly destroying yourself.

You got a 88.50% upvote from @upme thanks to @happymoneyman! Send at least 3 SBD or 3 STEEM to get upvote for next round. Delegate STEEM POWER and start earning 100% daily payouts ( no commission ).

We are upgrading our paradigm and level of consciousness sad to see so many Fudlers and trolls.. Yeah it has plenty of work to do I believe people still dont understand how complicated a secure blockchain takes for inception and maintain.#namaste to all the haters.

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After the main net launch EOS facing too many issues ranging from the minor to critical.Bugs are to be expected when an entirely new Blockchain launches, and Bitcoin and Ethereum weren’t without their issues in the early days either.But EOS kind of having more and more issues.

Also there is the complexity of creating an EOS wallet. It's kind of impossible newcomer to join the EOS ecosystem assistance of an existing account-holder. EOS has very big community and lots of people believe in this project. Hope issue will resolve soon and this project will be great sucess.

Forget about eos. Its done. Move on to a good project.

Forget about Eos. Its done. Move on to a good project.

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Glad to see that EOS does NOT need to fork to be fixed. EOS's 21 block produces are more decentralised than many other coins that have fewer mining pools controlling the whole block. Well done guys, nice to know you've got our backs !

mucha estafa hoy en dia con esas criptomondas

Many things could b finish the trust of cryptocurrency if the management involved in haking. So now in this situation How can we trust any NEW ICO???

Its brand new give it some time. I pretty excited about it but it could fall on its face. Time will tell.

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This is what now a days happening to cryptoworld. for me every time security is the first priority and everyone should.....

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It's seem interesting to me ,I like the way you post such amazing thing I'm impressed with your way you work , it's helping the new steemians to grow

eos and all other crypto coins will be hacked till 2027 may be bitcoin also.

I think every technology have a loophole. Good programmer can make it safer but not 100%.

So now question comes over the security of crypto currencies... Hopefully this will never happen to steem

Now EOS is an immature blockchain. Many peple are in confusion that they should hold it sell. shitcoin

true, same like what happened to PundiX hack earlier....Linux servers are treated as the most secure ones, but who knows with advancement in tech, even hackers are developing tools to breach.

This kind of Hacking news can damage the reputation of EOS network, EOS have to be take some serious steps on it , @happymoneyman Good Effort dear ,

Hacking has been a big worry in this field, we need to find a solution for it soon. Hackers keep disturbing and playing in this field

Eos is great project for long time investment

happy money man please let us know how can we save from hacker in future because www.cryptopia.co.nz exchange my 8000 coin hack by hacker i could not take any action against himhacker.jpg because i don"t know him

Its time to trade carefully hackers are very dangerous for us.....

This is so sad! Thanks for sharing with us @happymoneyman

If you want to stay safe, use a nano ledger S hardware wallet to store your funds! Never take a risk with your hard-earned money!

Store all your bags at #Myetherwallet for the long-term using ledger Nano S! You will have the private keys with you and no one will be able to access/hack your funds!

Best of luck 🍻

the issue with this market is that the Hakers found a way to get the gold while they are eating Doritos chips.

due to increase in Crypto business hacking incident also increase.
All of the exchanges need to take proper action to avoid these incident in future.

After hacking it is dificult to restore or get back Coins.

in my opinion and my experience since jumping into the world of crypto is often a misuse as well as phishing websites and other crypto dopet breakups, I hope we just be careful with our funds, and do not be split with new things offered by other parties such as email messages , social media and others.
yes be careful and conscientious to enter the new website that we know or have.
and the data that are important to the security of our funds should we save well.
and that slah also us if something happens like a wallet purse or something like that.
alert and cautious
thank you

It seems crypto is not safe nowadays.

every month this type fud happen
it will happen with only new comerslimits-of-frustration-of-contract-978x400.jpg

We have to find concrete solution for the problem as today also one exchange got hacked Bithumb which is one of the largest exchange in the world . $30 million dollars worth of cryptocurrency hackedScreen Shot 2018-06-20 at 12.31.18 PM.png

I have 0 SP @happymoneyman. Can you help me to transfer a little SP to @ekafao

Thanks Before

thank god that i have liquidated my all eos..

recover account and make a secure system.

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