‘Epic’ Vulnerabilities Discovered In EOS Blockchain, Says Chinese Report
Qihoo 360 is a Chinese web security organization known for its antivirus software (360 Safeguard, 360 Mobile Safe), Web Browser (360 Browsers), and Mobile Application Store (360 Mobile Assistant). It was established by Zhou Hongyi and Qi Xiangdong in June 2005. Qihoo 360 had 496 million clients for its Internet Security products and 641 million clients for its Mobile Antivirus products as of June 2014.
China’s biggest Internet security company, Qihoo 360, has discovered a few high-chance security vulnerabilities in EOS’s blockchain platform. These vulnerabilities would empower remote attacks on all EOS nodes, qihoo360 claimed on weibo 29th may.
Qihoo 360 wrote that they reported the issue to the EOS group and that the EOS mainnet won’t launch until the security issues had been settled. Local news outlet Jinse, which noticed that EOS requested that 360 not report the vulnerability claiming that the vulnerabilities have been settled around the same time, by around 2:00 pm China Standard Time.
As indicated by 360’s Weibo post, the vulnerability would enable an attacker to utilize a smart contract with vindictive code to open a security gap, and afterward utilize the supernode to enter the malicious smart contract into another block, therefore putting all network nodes under the attacker’s control.
When this activity has been done, the attacker could then control the digital currency on the EOS network in order for him to get client’s private keys and data, launch a cyber attack, or even start mining for other cryptocurrencies.
360 explains these vulnerabilities as another “series of unprecedented security risks” that could influence other blockchain platforms other than 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.”
According to coinmarketcap data, EOS, whose mainnet is planned to launch on June 2, is as of now around 2.76 percent over a 24 hour period, trading at around $11.70 by press time.
