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 betting system paid $600,000 to one user in less than 2 days. The gambler won the quantity on EOSBet, a trustless as well as instantaneous betting platform on the EOS blockchain.

The user regularly increased the cash by banking on blockchain dice. Inning accordance with a record by TheNextWeb, the EOSBet pocketbook sent over 126,000 EOS to this particular customer. Considering that it appeared to be dubious, EOSBet made clear on its site that the system had actually not been hacked. The system mentioned that payouts to the said account were reputable as well as discussed that it was simply pure good luck.

Suspicions concerning the payouts only appear all-natural a day after DEOSGames, an additional EOS-based betting system, was assaulted. In less than an hour, the system supposedly paid 24 times in a row to one individual. Reports suggest, regardless of depositing just 339 symbols, the account “runningsnail” managed to get greater than 4,728 EOS (approx. $23,640). Remarkably, the account was created simply a day prior to the funds were sent for betting.

This is not an isolated incident. A couple of weeks ago, a similar incident was kept in mind in EOSBet.io. At the time, the wagering dApp was compelled offline, as well as one more crucial flaw in the blockchain was found by the scientists. The growing hacking trouble has actually resulted in the rise in pest bounty programs, focused on finding loopholes on the blockchain.

These bug bounty programs invite cyberpunks to find vulnerabilities on the blockchain, for which they will receive a benefit. Apparently, this year observed cryptocurrencies worth $761 million shed to hacking and also theft. EOS reportedly holds the listing of the majority of variety of bug bounty programs, according to an additional TheNextWeb report. The team behind the crypto has actually spent around $417,000 on incentives for insect bounty programs and has actually enhanced its incentive from $300 to $2100 this year.

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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