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 out $600,000 to one customer in less than two days. The gambler won the amount on EOSBet, a trustless and also immediate betting platform on the EOS blockchain.

The customer consistently increased the money by betting on blockchain dice. Inning accordance with a report by TheNextWeb, the EOSBet budget sent over 126,000 EOS to this particular customer. Because it appeared to be suspicious, EOSBet clarified on its website that the system had actually not been hacked. The platform stated that payouts to the said account were legit as well as discussed that it was simply pure luck.

Uncertainties relating to the payouts just appear natural a day after DEOSGames, an additional EOS-based wagering system, was struck. In less than an hour, the platform reportedly paid 24 times in a row to one person. Records recommend, despite transferring just 339 symbols, the account “runningsnail” managed to get greater than 4,728 EOS (approx. $23,640). Surprisingly, the account was created just a day before the funds were sent for wagering.

This is not a separated event. A few weeks earlier, a similar case was kept in mind in EOSBet.io. At the time, the betting dApp was required offline, and also an additional essential imperfection in the blockchain was located by the researchers. The expanding hacking trouble has resulted in the boost in insect bounty programs, aimed at discovering loopholes on the blockchain.

These insect bounty programs invite hackers to locate vulnerabilities on the blockchain, for which they will get an incentive. Supposedly, this year observed cryptocurrencies worth $761 million lost to hacking and burglary. EOS apparently holds the list of most number of pest bounty programs, according to another TheNextWeb record. The team behind the crypto has invested around $417,000 on benefits for insect bounty programs and also has raised its reward 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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