EOS betting platform pays $600k to a single user in 36 hours

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September 13, 2018 by
EOS betting platform pays $600k to a single user in 36 hours

An EOS-based betting system paid $600,000 to one customer in less than two days. The gambler won the quantity on EOSBet, a trustless and also instantaneous gambling platform on the EOS blockchain.

The individual regularly doubled the cash by banking on blockchain dice. According to a record by TheNextWeb, the EOSBet purse sent out over 126,000 EOS to this certain user. Because it appeared to be suspicious, EOSBet clarified on its web site that the system had actually not been hacked. The platform specified that all payments to the said account were legitimate and also pointed out that it was simply pure good luck.

Suspicions pertaining to the payments just seem natural a day after DEOSGames, an additional EOS-based wagering platform, was assaulted. In less than an hour, the platform reportedly paid 24 times in a row to one individual. Reports suggest, regardless of transferring just 339 symbols, the account “runningsnail” managed to get greater than 4,728 EOS (approx. $23,640). Interestingly, the account was produced simply a day before the funds were sent for betting.

This is not a separated case. A few weeks ago, a similar incident was kept in mind in EOSBet.io. At the time, the betting dApp was forced offline, and an additional critical defect in the blockchain was discovered by the researchers. The expanding hacking issue has actually brought about the increase in insect bounty programs, targeted at uncovering loopholes on the blockchain.

These pest bounty programs welcome hackers to discover susceptabilities on the blockchain, for which they will certainly obtain a reward. Apparently, this year witnessed cryptocurrencies worth $761 million lost to hacking and also theft. EOS reportedly holds the checklist of many number of pest bounty programs, inning accordance with an additional TheNextWeb report. The group behind the crypto has spent around $417,000 on incentives for bug bounty programs and has raised its reward from $300 to $2100 this year.

Teja

Krishna Teja Reddy is a crypto enthusiast and a market analyst. He is specializes in market analysis and strives to provide accurate crypto market statistics to the crypto community and cryptocurrency investors. He focuses on delivering quality news stories to him readers and aspires to be a successful business journalist.

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