One of the gambling applications in the EOS network, EOSPlay, was the victim of a hack that stole 30,000 EOS. The attacker exploited the smart contract code to force the winnings to be won and congested the network to slow down his actions.
Issues like these highlight the vulnerabilities of different crypto ecosystems. The EOSPlay situation is not only applicable to EOS, but can be found on all networks using smart contracts.
What attacker did:
1. Rented a huge amount of CPU and NET #EOSREX resource exchange.
2. Staked CPU & NET for (1) himself and (2) attacked contract.
3. Congested network.
4. Initiated some transactions to the attacked contract. Won a lot of $ EOS in gambling DApps.
– Dexaran (@Dexaran) September 14, 2019
Ethereum has faced similar problems and, in most cases, hackers have accumulated significant funds through this method.
The Libra fights the idea that it is a threat to financial stability
The head of the Libra Association, Bertrand Perez, responded to the statements that the cryptocurrency project threatens the financial stability of nations.
In an interview with the French daily Les Echos, Perez explained:
“Such statements are not justified. Monetary policies are the ones that will influence Libra because it will affect the fiat currencies it is based on and not vice versa. ”
The project states that the Libra value will be based on a fiat currency basket that includes the US dollar, euro, yen, pound sterling and Singapore dollar. Although an official decision has not yet been made, Perez estimated that the US dollar will account for about half of the reserve, which could reach a maximum of $ 200 billion.
The head of the Libra Association also talked about what might happen if one of the coins included in the basket suddenly collapsed:
“If there is a catastrophe on a currency or a crisis affecting it, we could remove it from the basket, but this decision should be put to the vote and taken by a majority of two thirds of the members of the Association”,
said Perez.
Tom Lee: The US President can ban anything, including cryptocurrencies
Investor Tom Lee has claimed that banning e-cigarettes in the US shows that a presidential executive order can ban anything. He believes the cryptocurrency industry would be an easy target, given Donald Trump’s position on Bitcoin.
After six people were hospitalized with lung diseases apparently caused by electronic cigarettes, the White House issued an executive order banning their use and marketing in the US.
Tom Lee said Twitter that this action could also be taken for Bitcoin, especially if it reaches $ 100,000. However, there have been other countries that have tried to make cryptocurrencies unsuccessful.
Given that Americans are extremely attached to the idea of personal and financial freedom, in combination with the increased lobbying for the cryptocurrency industry, implementing such a ban seems unlikely.
Aventus Classic for combating fraud in ticketing systems
The blockchain protocol Aventus has unveiled a new version of code called Aventus Classic.
It was designed to create a fairer and more transparent ticketing industry.
Aventus Classic is an Ethereum-based, open-source, decentralized protocol designed to stop fraud and provide more transparency to the event ticketing industry.
The company also launched a $ 15,000 prize competition for blockchain developers, in partnership with The Satoshi Awards. Those who will build the best blockchain-based ticketing system will receive a $ 15,000 prize in ETH. The winning concept will be presented at The Satoshi Awards to be held in mid-2020.
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