A famous Chinese web security company Qihoo 360 has announced that it discovered several potential weaknesses in the EOS blockchain platform.
The cybersecurity firm made this known through Chinese leading social media platform Weibo, adding that a portion of these vulnerabilities can remotely execute discretionary code on the EOS node, implying that remote assaults can straightforwardly control and assume control over all nodes running on EOS.
It was gathered that security firm helped to repair the discovered security threats on the 29th of May, briefly after reporting the issues to EOS officials.
A Multi Attack to Blockchain Nodes
Because of the decentralized nature of the blockchain, a security attack on one of the nodes would rapidly spread across other nodes within the blockchain, and this will hurt them.
This is a consequence of the fact that Security breaches and vulnerabilities in digital monetary forms have a tendency to have far more prominent effects than those related to standard programming.
The hacker will have full control over the nodal framework and can take private keys, client information, and control all cryptocurrency exchanges.
The translated post reads as follows:
“The EOS supernode will execute this malicious contract and trigger a security hole. The attacker then re-uses the supernode to package the malicious contract into a new block, which in turn causes all full nodes in the network to be controlled remotely.”
The report also shows that the hacker of the blockchain will be able to distribute and circulate a smart contract containing malicious code focusing on the weakness during the security breach. While they are yet to debunk the statement from 360, the EOS team have however noted that the EOS system won’t be officially launched until these security issues are settled.