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Chinese security firm finds vulnerabilities on EOS

NEWS DESCRIPTION

With an adaptable blockchain based platform for dissolution applications, EOS.IO has generated a lot of stir in the market. However, the current platform has been facing several backlash amid the disclosure of big security vulnerabilities on its network. The internet security giant firm of China, Qihoo 360 has declared some very serious security flaws on the platform of EOS. This declaration made only a few days before the brand new EOS mainnet release scheduled at 2nd of June.

According to the security company’s announcement, a few of these vulnerabilities can execute arbitrary code on the node of EOS, that means any malicious party can take control over all nodes that would be running on EOS. Because of the disturbed nature, the impact of any attack on this versatile platform is more dangerous than a centralized system as well as the attackers can launch smart contract including faulty codes on the compromised network.

It is also reported that “Since the system of the node is fully controlled, the hackers can do whatever it wants such as controlling the virtual currency transaction of EOS network, gathering other financial & privacy information in the EOS network participating node system, & stealing the EOS supernode key. Apart from this they can also hack key user profiles, exchange digital currency, privacy data, user’s key stored in the wallet & more.”

The vulnerabilities will even allow an attacker to commence a node in the network of EOS into a botnet member which allows any party to participate in free mining activity. Earlier this month, Audit Company, Chengu LiaAN technology Co, stated that they have found a critical error in smart contract structure of EOS. But Dan Larimer, EOS CTO claimed that the problem isn’t security vulnerability, however it’s result of poor quality coding practices.


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