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Chinese security firm claims “epic vulnerabilities” could have delayed EOS’ mainnet launch

Qihoo 360 – a Chinese security firm – has claimed that a series of vulnerabilities may have derailed EOS’ imminent mainnet launch had they not been resolved.

Written by Bryan Smith Published on

With its mainnet launch scheduled for the 2nd of June and an ongoing token swap, EOS continues to generate headlines in the cryptocurrency community – and now a new source from China has alleged that an unforeseen vulnerability may have compromised the flagship launch of the EOS network had it not been resolved.

In a new report, China’s largest internet security company – Qihoo 360 – has claimed that a latent vulnerability could enable hackers to hijack EOS network nodes. However, Chinese media outlet Jinse has correspondingly claimed that the EOS development team has now successfully isolated and resolved the issue.

Reportedly, Qihoo 360 had advised the EOS development team of the vulnerability’s presence at 1PM on May 28th, while the blockchain project’s lead maintainers had resolved the issue by 2PM the following day on May 29th.

In a report, Chinese media outlet Jinse revealed that:

“Recently, the 360 Vulcan team discovered a series of high-risk security vulnerabilities in blockchain platform EOS. It has been verified that some of these vulnerabilities can remotely execute arbitrary code on the EOS node. That is, remote attacks can directly control and take over all nodes running on EOS.”

The report continued to outline that:

“Since the system of the node is completely controlled, the attacker can “do whatever it wants”, such as stealing the key of the EOS super node, controlling the virtual currency transactions of the EOS network; and acquiring other financial and privacy data in the EOS network participating node system — such as a user’s key stored in the wallet, key user profiles, privacy data, and more.”

The quick resolution of the issue likely means that EOS’ mainnet launch with now proceed without delay. However, not everything has gone to plan for the blockchain project.

Users holding ERC20-compatible EOS tokens will be required to register and exchange their holdings for EOS’ proprietary token ahead of the project’s mainnet launch. However, according to EOS Authority, only 47% of all ERC20-based EOS tokens in circulation have been registered at press time.

At press time, EOS is down 6.27% day-on-day, and trades at $11.28 USD.

Written by

South African technology journalist, podcaster, photographer and filmmaker. Hodling - BTC, NEO, ETH.@bryansmithsa

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