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

The individual consistently doubled the money by banking on blockchain dice. Inning accordance with a record by TheNextWeb, the EOSBet purse sent over 126,000 EOS to this specific user. Considering that it appeared to be dubious, EOSBet made clear on its website that the platform had actually not been hacked. The system mentioned that all payouts to the claimed account were legitimate and stated that it was simply pure good luck.

Suspicions relating to the payments just appear natural a day after DEOSGames, one more EOS-based wagering system, was attacked. In less than an hour, the system supposedly paid 24 times in a row to one individual. Records recommend, despite 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 before the funds were sent for betting.

This is not a separated incident. A couple of weeks back, a similar occurrence was noted in EOSBet.io. At the time, the betting dApp was required offline, as well as one more essential defect in the blockchain was located by the scientists. The growing hacking issue has brought about the boost in insect bounty programs, aimed at discovering loopholes on the blockchain.

These bug bounty programs welcome hackers to find susceptabilities on the blockchain, for which they will certainly get a benefit. Supposedly, this year experienced cryptocurrencies worth $761 million shed to hacking and theft. EOS reportedly holds the list of a lot of variety of pest bounty programs, inning accordance with another TheNextWeb record. The group behind the crypto has spent around $417,000 on incentives for bug bounty programs as well as has boosted 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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