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EOS Network Arbitrators Abolish Fraudulent Transactions

16:55 12/11/2018

On November 11, a message about the cancellation of previously confirmed transactions in the EOS system by the decision of the network arbiter appeared on the Reddit portal.

 

The EOS developers have formed a set of rules, the so-called EOS Constitution. According to the document, authorized arbitrators are obliged to solve problems during the disputed issues under the guidance of the Constitution terms. The Reddit user under the nickname AUTI9003 reported in the message that the arbitrators had to take actions because unknown fraudsters successfully used fishing to get access to his private keys.

EOS centralisation in action: arbitrator rules to reverse transactions from accounts from r/CryptoCurrency

After the investigation, arbitrator Ben Gates, under the supervision of Moti Tabulo, decided to return the EOS account under the control of the rightful owner. Arbitrators ordered to invalidate transactions made by fraudsters, to freeze the stolen funds and transfer them back to the account.

 

Representatives of the Whiteblock decentralized audits company have previously reported that the blocks producers in the EOS protocol have the ability to edit information in the network.

Earlier, the EOS developers recognized the information about the charges against the nodes that allegedly participated in the collusion and fraudulent voting. Huobi crypto exchange was listed among the companies that have been accused of fraudulent voting.

 

The EOS network is supported by the work of block producers, which are represented by the industry leaders and authorized organizations. These nodes have to validate transactions by voting, and consensus is reached only by the decision of the majority of nodes.

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