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 user in less than two days. The gambler won the quantity on EOSBet, a trustless as well as immediate gambling platform on the EOS blockchain.

The customer constantly increased the cash by betting on blockchain dice. According to a report by TheNextWeb, the EOSBet purse sent out over 126,000 EOS to this particular user. Since it seemed dubious, EOSBet made clear on its site that the system had not been hacked. The system specified that payouts to the claimed account were reputable as well as mentioned that it was simply pure luck.

Uncertainties pertaining to the payments only seem natural a day after DEOSGames, one more EOS-based betting platform, was struck. In less than a hr, the platform supposedly paid 24 times in a row to one person. Reports recommend, regardless of depositing only 339 tokens, the account “runningsnail” managed to get greater than 4,728 EOS (approx. $23,640). Surprisingly, the account was created simply a day prior to the funds were sent for betting.

This is not a separated occurrence. A couple of weeks earlier, a similar event was kept in mind in EOSBet.io. At the time, the wagering dApp was compelled offline, and also an additional crucial defect in the blockchain was located by the researchers. The expanding hacking issue has actually brought about the increase in insect bounty programs, focused on discovering technicalities on the blockchain.

These insect bounty programs invite cyberpunks to discover vulnerabilities on the blockchain, for which they will get an incentive. Supposedly, this year witnessed cryptocurrencies worth $761 million shed to hacking and burglary. EOS reportedly holds the listing of a lot of number of insect bounty programs, inning accordance with one more TheNextWeb report. The group behind the crypto has invested around $417,000 on incentives for pest bounty programs and has raised its benefit 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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