Original: nulltx.com
Binance

Chinese internet security giant Qihoo 360 has discovered a series of “epic vulnerabilities” in the EOS (EOS) platform.

The discovery broke on Chinese microblogging platform, Weibo, which is often likened to Chinese Twitter. The report highlights a series of bugs that were found on the EOS blockchain that allows arbitrary code to be executed remotely on EOS nodes which can even allow a malicious actor to take full control of the node.

The news rapidly reached the western media through cnLedger’s widely followed Twitter account:

Qihoo 360 went on to claim that the breach would have allowed attackers to deploy smart contracts with malicious code to EOS supernodes. Once the contract is included in a block, the potential for misuse is amplified as it can affect backup nodes, exchanges, wallet nodes, and more.

However, according to an update posted on Chinese blockchain news site, Jinse, the EOS team has reportedly worked through the issues with the Qihoo 360 team.

“On the early morning of the 29th, this type of loophole was reported to EOS official and assisted in repairing security risks. According to 360, the person in charge of the EOS network stated that the EOS network will not be officially launched until these issues are fixed.”

The Qihoo 360 employee involved with the fix told Golden Finance, “This is a serious problem in itself, but it is not difficult to fix it. It should not have a major impact on the main line, because EOS has been continuously [working to] fix the bug.”

🚀  Block.one to Unveil Major EOS (EOS) Announcement on June 1

Qihoo 360 has urged the blockchain industry and other security firms to pay closer attention to such issues, as any small vulnerability in a decentralized blockchain system can trigger attacks across the entire network.

CoinCodex

The price of EOS fell after news of the security issue broke, but it has since recovered after investors received the ‘all-clear’ from the EOS team. The project is still planning to switch from the Ethereum blockchain to its own mainnet on June 2nd.

More: 360 finds blockchain epic vulnerabilities to fully control virtual currency transactions
Related: Ethereum’s Price Drop Possibly Due To Large ETH Sell-Off By EOS
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