Crypto enthusiast Emin Gun Sirer put up an interesting thread today on twitter predicting a massive exchange hack in the next 12 months….all because of potential EOS vulnerabilities. In it he details the ensuing lawsuits between EOS block producers and exchanges wreaking havoc on the crypto world.
He finishes off by saying you shouldn’t store cryptos on exchanges long term and to ask development teams to explain what they will do to ensure similar bugs don’t come up again. All before taking a shot at the measly $10k bug bounty that EOS offered as reward.
Read for yourself.
If EOS uses its arbitrators to reverse the hack, the contagion will spread downstream.
There will be threats of lawsuits involving the devs and the BPs.
Twitter lawyers will point out the absurdity of the EOS constitution, or any document not grounded in actual law.
— Emin Gün Sirer? (@el33th4xor) June 18, 2018
I base this prediction not on any specific vulnerability I suspect is in EOS code (see here https://t.co/namzGCklAA ), but on having read the project git and seen how they handle safety critical bugs.
— Emin Gün Sirer? (@el33th4xor) June 18, 2018
Others have identified the lack of a testnet. Testnets are nice in that they can help identify problems, if you're lucky and they expose themselves in test.
But the real subtle vulnerabilities arise only when a hacker prompts them. That won't happen in testnet.
— Emin Gün Sirer? (@el33th4xor) June 18, 2018
In the same vein, you can't start out with some bricks, beams and cables over a body of water, patch the holes where cars fall into the ocean, and end up with a load-bearing bridge.
— Emin Gün Sirer? (@el33th4xor) June 18, 2018
Perhaps the safety criteria is sufficiently simple in EOS that my exchange hack prediction will not come to pass. Or maybe it will take the h4x0rs more than a year to master the vulnerabilities.
Regardless, code dev culture trumps all else.
— Emin Gün Sirer? (@el33th4xor) June 18, 2018
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