EOS Developers Save The Day For Real

EOS Developers Save The Day For Real

C-Buzz
May 30, 2018 by Prashant Singh
124
Our latest news comes to us from China’s largest Internet security company, Qihoo 360. The company recently detected some pretty steep complications in the EOS Blockchain domain. As per experts, this was not just another bug, and potentially held the capacity to jeopardise the security of the Blockchain. Qihoo 360 confirmed that these breaches would
btc wires

Our latest news comes to us from China’s largest Internet security company, Qihoo 360. The company recently detected some pretty steep complications in the EOS Blockchain domain. As per experts, this was not just another bug, and potentially held the capacity to jeopardise the security of the Blockchain. Qihoo 360 confirmed that these breaches would enable remote attacks on all EOS nodes collectively.

According to Qihoo 360, they have reported this vulnerability to the team at EOS and consequently EOS main net will refrain from launching until the issue is resolved. A local news outlet Jinse has noted that EOS has asked 360 to not report the vulnerability, and that these vulnerabilities were fixed on the very same day by 2:00 pm in China.

As per 360’s Weibo post, this vulnerability could allow attackers to make use of a smart contract including malicious code that would be used to open a security hole. These attackers would then be able to use the supernode to enter the malicious smart contract into a new block. As a result, all network nodes would come under the control of the attacker.

If this action was completed, it would give the control of the digital currency on the EOS network to the attacker. This means that the attacker would get the private keys and data of users and initiate a cyber attack, or they might just start mining for other cryptocurrencies.

360 believes that these vulnerabilities could form a new line of “unprecedented security risks” which have the capacity to breach other blockchain platforms besides EOS:

“360 expressed [hope]  that the discovery and disclosure of this loophole will cause the blockchain industry and security peers to pay more attention to the security of such issues and jointly enhance the security of the blockchain network.”

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Tags: Blockchain, Crypto, EOS

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