EOS42 Statement on Block Producer Decision to Freeze 7 EOS Accounts
The EOS 911 initative is something that EOS42 have been actively involved with launching and assisting with over the last fortnight; details and background can be found here.
With the EOSIO mainnet now launched, any EOS accounts compromised by the registration process through phishing scams and the like are now capable of being unlocked. The EOS Core Arbitration Forum (ECAF) had a submission filed, and Block Producers were today expecting to receive a ruling to action - as will be the standard process going forwards.
The guidance today however was not a ruling, but complexity due to the mainnet launching so recently. With the EOSIO constitution not yet ratified by token holders, ECAF are not yet able to pass a ruling as a validated arbitrator.
Block Producers Debate A Complex Decision
Given the time sensitive nature of this case, Block Producers debated this difficult decision for over two hours today on a call. On the one hand we could protect token holders, on the other this on the surface appears a dramatic overstep of our role in the constitution and BP agreement, which is to be the executor only of arbitration decisions, not to also be judge and jury.
EOS42 certainly had this initial view, but as a global group we all worked through this complex situation. As we said on the call, our own conclusion is that if a ratified EOS constitution and arbitration was in place, then it would indeed be a fundamental overstep of Block Producers to do more than action arbitration decisions. However this is not currently the case, so the question was whether we would freeze the tokens on 7 accounts identified as already unlocking (meaning potential thieves could appropriate funds in under 24hrs), to subsequently enable ECAF when able to review and pass a ruling - and protect token holders to the best of our ability.
The Block Producers reviewed all evidence in full, which gives an indication that the legitimate owners have both proved their ownership and signalled their will for account suspension through EOS 911. This is not the Block Producers passing any judgement on the merits of the case.
Decision and Possible Future Decisions
The Block Producers eventually reached a unanimous consensus to freeze the following 7 EOS accounts:
These will be passed to ECAF to rule on through full due process subsequently. The group also agreed that should further potentially compromised accounts be unlocked during this period before the constitution is ratified, we will consider these and whether to freeze.
The Need To Ratify The EOSIO Constitution
EOS42 believe this was the right result and in the spirit of EOSIO, which is to be a governed blockchain that has the capability to protect token holders and property. We also believe that this reveals an immediate need for a community voting solution to ratify the EOSIO constitution. We are discussing today with other block producers and influential community contributors who have in-house development capablities, to start work on providing this to enable ECAF to be able to provide rulings as soon as possible.
If anybody has any questions or concerns relating to today's decision please contact us, we are happy to address them. This article is intended to provide full transparency for the community.
EOS42 is an EOS Block Producer Candidate based in London, UK