EOS DApps Lose Almost $1 Million to Hackers Over the Last Five Months

[PRIBO247]

Decentralized apps ( DApps ) based on the EOS blockchain have
lost up to $1 million to hacks since July, Chinese crypto media
Blockchain Truth reports Tuesday, Dec. 4.

The report cites data by PeckShield, a blockchain security
company that monitors different ecosystems. According to the
report, the DApps on EOS have seen 27 breaches from July to late
November, losing up to 400,000 EOS, or 8 million yuan. As of press
time, the amount hacked was worth $800,000 according to the EOS
price chart on CoinMarketCap.

Nonetheless, Guo Yonggang, an expert cited by Blockchain Truth,
believes that most of the attacks on EOS DApps correlate with their
vulnerabilities rather than with a bug in EOS itself. Yonggang also
tends to think that similar attacks will become more frequent, as
hackers are intensively seeking exposures in applications.
Moreover, the report states that the EOS blockchain has a
significant amount of dormant accounts — around 200,000 of
500,000 in total. In addition, nearly 120,000 accounts are
reportedly managed by groups, which means that 37 percent of the
EOS blockchain is real active users.

As of press time, EOS’s price hovered around $2 . Its total market
capitalization is up to around $1.8 billion, which makes EOS the
seventh largest cryptocurrency by market cap.

Last week, United States -based cryptocurrency exchange
Coinbase announced it was exploring the option to list over 30
more cryptocurrencies, including major players such as Ripple
(XRP), EOS and Cardano (ADA ). However, the exchange noticed it
would likely be a long-term process, and some assets might not
be available in several countries.

As Cointelegraph reported in early December, the month has
started with yet another debate around the EOS ecosystem, as
Starteos — one of the official sanctioned nodes which can approve
EOS transactions — appeared to publically offer its token holders
financial rewards in return for their votes.

EOS had previously come under criticism for a lack of
decentralization after some confirmed transactions allegedly from
a phishe account were reversed this fall.

Source : https://cointelegraph.com/news