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 wagering platform paid $600,000 to one user in less than two days. The casino player won the amount on EOSBet, a trustless and also instant betting platform on the EOS blockchain.

The customer constantly doubled the money by betting on blockchain dice. Inning accordance with a report by TheNextWeb, the EOSBet purse sent out over 126,000 EOS to this specific user. Considering that it seemed suspicious, EOSBet cleared up on its internet site that the system had not been hacked. The platform stated that payments to the said account were reputable and also stated that it was just pure luck.

Suspicions pertaining to the payments just seem natural a day after DEOSGames, another EOS-based wagering system, was assaulted. In less than an hour, the system reportedly paid 24 times in a row to one person. Reports suggest, in spite of transferring only 339 tokens, the account “runningsnail” procured more than 4,728 EOS (approx. $23,640). Remarkably, the account was developed simply a day prior to the funds were sent for wagering.

This is not a separated occurrence. A couple of weeks earlier, a comparable occurrence was kept in mind in EOSBet.io. At the time, the wagering dApp was compelled offline, and also an additional essential imperfection in the blockchain was found by the researchers. The growing hacking issue has actually caused the boost in bug bounty programs, aimed at uncovering loopholes on the blockchain.

These bug bounty programs invite cyberpunks to locate susceptabilities on the blockchain, for which they will get a benefit. Supposedly, this year witnessed cryptocurrencies worth $761 million lost to hacking as well as burglary. EOS reportedly holds the checklist of the majority of variety of pest bounty programs, inning accordance with an additional TheNextWeb record. The group behind the crypto has spent around $417,000 on incentives for pest bounty programs and has increased its incentive 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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