EOS Core Arbitration Forum Blocked 27 Cryptocurrency Wallets

eos wallet

The blockchain of EOS is currently discussed even more that Ethereum’s. Not only was its launch delayed and frozen, it also experienced problems after it officially went live. Now, after about a week of operating, the mainnet once again receives a wave of criticism.

The special committee founded by the founders of EOS called Core Arbitration Forum which was created to address and solve the issues with the blockchain released an order for the EOS block generators. The order stated that the transactions with 27 digital wallets should be stopped.

https://twitter.com/ferdousbhai/status/1010206359688753154

The main reason for the EOS users and just interested people to get angry is the absence of any clear explanations of the sudden blocking. Some experts see a tendency in the fact that EOS keeps having problems with its mainnet.

Others believe that EOS does not have the right to be called a decentralized network, since different bodies created to observe it have too much control and remind a real government.

However, there were people who supported EOS. According to them, the frozen 27 wallets were most likely dangerous and involved in some suspicious activity.

Right now everybody is waiting for the official response from the EOS management. As always, we will be monitoring the situation with the mainnet of EOS and reporting about any changes or major events in its operating.

We would like to remind you that EOS became the first digital coin in the Chinese cryptocurrency rating.

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Huobi Introduces the Beta Version of Its EOS-based Decentralized Exchange

The Chinese cryptocurrency exchange Huobi launched its decentralized branch based on the EOSIO technology. Huobi was involved in some business with EOS before, however, this time there seem to be no controversies.

We remind you:

Huobi Might Be Involved in EOS Block Producers’ Manipulation

The first 3 crypto pairs listed at the exchange will be:

– EOS/BTC

– EOS/ETH

– EOS/USDT (a stablecoin)

EOS cryptocurrency will also be the main currency at Huobi’s mining pool.

The plans for opening up a decentralized exchange appeared back at the end of 2018. A couple of weeks later, the beta version launches. There is currently no info on when the exchange will start operating fully.

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The CEO of Circle Believes That a Clearer Policy of the SEC Will Cure the Crypto Industry

The CEO of the project Circle, backed up by the major bank Goldman Sachs, Jeremy Allaire started a thread on Reddit together with his co-workers, where they debated the accomplishments of the company in the recent time, talked about prospects for the future and discussed the overall situation on the crypto market.

According to the representatives of Circle, one of the main issues with crypto in the US is the lack of regulatory framework and, most importantly, the inability of the Securities and Exchange Commission to clearly define cryptocurrencies as belonging to a particular type of assets.

We remind you:

The SEC: Unlike ICO Tokens, Bitcoin and Ethereum Can Not Be Securities

There absolutely needs to be more regulatory clarity to really make this fly — in particular around who can issue these, how they can be stored and transmitted, and what markets can allow their trading. There’s a lot of attention on this and we absolutely expect to see these issues resolved and for far more real world experiments to hit the markets this year,” said Jeremy Allaire.

Also, the CEO of Circle claimed that the US should follow the example of France and have a separate kind of taxation for crypto-to-crypto transactions.

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“51% Attack” Hit Ethereum Classic: A Full Analysis Of The Process

As we have reported earlier, Ethereum Classic was hit by 51% attack, it means that hackers obtained more than 50% of network’s mining hashrate.

A Malicious “51% Attack” Hit Ethereum Classic, The Loss Allegedly Accounts For $460 000

Slowmist, Chinese-based blockchain journal, has released a full report on the attack. The earliest hit occured on January 5, the culprit hacked some exchanges, like Bitrue, Coinbase, Gate.io, however, this was noticed only two days later.

The first action was a transfer of more than 5000 ETC from Binance to the criminal’s address 0x24fdd25367e4a7ae25eef779652d5f1b336e31da. This amount of coins moved to a mining node, that created block 7254355. After that, the hacker deposited 4000 ETC to Bitrue exchange in block 7254430, yet, this transaction vanished from the Ethereum Classic chain. Another 9000 ETC was stolen in the same way. The Bitrue address 0x2c9a81a120d11a4c2db041d4ec377a4c6c401e69 no longer exists, and the official history is clear. Though, Bitrue managed to save some records:

The scheme of the hacker attack is simple:

  • make a deposit;
  • withdraw to a safe address;
  • to double coins – just move the coins to other addresses.

One of the biggests victims is Coinbase exchange. It was estimated that the loss from the attack accounts for $1 million. The above-mentioned report also provides the information about two attacker addresses which were blackmailed by Coinbase later. They are:

– 0x090a4a238db45d9348cb89a356ca5aba89c75256
0x07ebd5b21636f089311b1ae720e3c7df026dfd72

In Twitter, one of users (nickname: @OGBTC) claimed that he knew the culprit personally.

https://twitter.com/OGBTC/status/1082559086070136832

Another user (nickname: @sebseb7) indicated that it was he who knew the hacker.

The “51% Attack” is over for now. All we can do is to estimate the losses and to take measures so that it will not happen again.

The report also stated:

“[W]e recommend that all digital asset services platform block transfers from the above malicious wallet addresses. And strengthen the risk control, maintain a high degree of attention, and be alert to double spend attacks that may erupt at any time.”

We remind you:

The Dark Overlord Threatens To Reveal The Truth of 9/11 Attacks Unless Ransom in Bitcoin is Paid

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GMO Will Keep On Mining Bitcoins at a Different Location

One of the world’s largest IT companies, Japan-based GMO has published its monthly report regarding its mining activities and the profits coming from them.

We remind you:

Japanese GMO Releases a Monthly Update: What Has Changed As For Mining?

Based on the December’s document, the revenue from mining cryptocurrency has dropped down  significantly which implies that immediate measures must be taken.

One of the biggest pitfalls of mining is the amount of electricity consumed and its high price. Thus, GMO made a decision to relocate its main mining center into a different area, where electricity will cost way less.

We will relocate the mining center to a region that will allow us to secure less expensive power supply,” reads the report.

Moreover, the company refuted all the rumors regarding its alleged plans of giving up mining completely. Since 2017, when GMO first engaged into mining, it has earned massive profits and still sees potential in crypto.

As we may see in the statistical data, the mining reward for Bitcoin increased a lot in the last month of December, whereas Bitcoin Cash suffered a hard fall. But the crash of the crypto market and Bitcoin in particular could not be controlled by GMO and affected its business quite badly, making it “move houses”.

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A Malicious “51% Attack” Hit Ethereum Classic, The Loss Allegedly Accounts For $460 000

An operator of Ethereum Classic mining pool has confirmed that a 51% attack has hit ETC network on January 7. This attack refers to a malicious attack on blockchain when hackers obtained more than 50% of mining hashrate of network.

The hackers got the ability to reorganize blocks and even replace them on blockchain, moreover, the culprits are able to “double spend” coins, i.e. the same coins can be transferred several times.

The rumours that ETC has been experiencing a hacker attack originally appeared on CoinNess, Chinese journal on the 6th of January. The report says that SlowMist, Chinese blockchain security firm, was the first to notice the attack.

The article reads:

“The ETC community followed up on the development of the incident immediately and learned that there is a private mining pool…that achieves more than 50% of the total network hashrate at certain times.”

The spokesman of Ethereum Classic has responded in Twitter, saying the network “operated normally”.

However, in just a few hours, the representative asked all mining pools to “allow a significantly higher confirmation time on withdrawals and deposits (+400).”

Later, without any confirmation or comment, the official account of Ethereum Classic retweeted the report made by Chinese journal.

On January 7, the cryptocurrency exchange Coinbase has posted a report saying that they detected this attack on the 5th of January. Mark Nesbitt, Coinbase Security Engineer, who wrote that report, stated that since the disclosure of malicious attack, there had been 8 chain reorganizations worth approximately $460,000.

Ethereum Classic refuted to the report of Coinbase, claiming that the later did not “connect  with ETC personnel regarding the attack.”

While it is still unknown who was the first to detect the malicious attack and what are the consequences of it, we want to remind you

The Dark Overlord Threatens To Reveal The Truth of 9/11 Attacks Unless Ransom in Bitcoin is Paid

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Cryptocurrency Prices Today, January 8: Cryptocurrencies Are in the Red Zone After a Period of Growth

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, Dash, Monero: Cryptocurrency prices

According to the online platform Coingecko, Bitcoin (BTC) lost 0.2% over the past 24 hours. The price at the time of writing is $3970 per coin.

Most cryptocurrencies are falling in price:

Bitcoin Cash lost 4.42% over the past 24 hours and costs $159 per coin;

Ripple dropped by 2.8% and costs $0.36;

EOS decreased by 0.67%, and its price is $2.83;

Litecoin added 1.25%, and its value is $39;

Cardano lost 3.18%, and its cost is $0.048;

Stellar fell by 1.42% and costs $0.12;

IOTA dropped by 4.61%, and its rate is $0.35;

Dash lost 2.02%, and its price is $83;

Monero became more expensive by 0.63% and costs $54.

Over the past 24 hours, Ethereum lost 3.79%. The exchange rate of the coin is $150.

The total market capitalization rose to $135 billion. Bitcoin accounts for 51.8% of the total volume. In monetary terms, it is $70 billion.

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