Hackers create 1B fake EOS to rob ‘decentralized’ cryptocurrency exchange

Thanks to a shocking security vulnerability, hackers have flooded a “decentralized” token exchange platform with 1 billion fake EOS. By the end of the heist, the thieves were able to steal almost $58,000 in cryptocurrency directly from users. The hackers created a new EOS-based token, ironically named “EOS,” and used it to illegitimately purchase BLACK, IQ, and ADD tokens from exchange service Newdex. The company has since confirmed the hack. “EOS account oo1122334455 issued 1,000,000,000 fake EOS tokens,” Newdex wrote in a statement. “After testing the feasibility of the attack, the account began to place large [buy orders]. A total of 11,800 fake EOS orders were issued to…

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https://ift.tt/2QDGE3f David Canellis September 18, 2018 at 06:01AM