Crypto Gambling Site Hit by Hackers

Crypto Gambling Site Hit by HackersGambling group EOSBet is the latest online gambling site to have been hacked and robbed as a result of a breach of security. EOSBet was recently robbed of 40,000 EOS cryptocoins. The coins, when converted, amount to roughly $200,000. The hack was made possible by cyber-criminals having tapped into the site’s inner systems and taken advantage of some of weaker links in the app’s smart contracts.

To add insult to injury, the hack comes as a huge embarrassment to the group, as it had only recently declared its systems to be virtually fail-safe. However, the hackers had successfully managed to identify a glitch in the code, and before too long, the software had instructed the inner workings of the EOSBet system to transfer large numbers of crypto-coins to a number of external accounts.

No Lengthy Delay Expected

Shortly after the incident had taken place, EOSBet had issued an official statement to its players, in an attempt to clarify the situation as well as to put the minds of players at ease. The statement read that a few hours ago, the company’s systems had been hacked by what had not been a minor bug. The statement also explained that a forensic team was working hard at getting behind the truth at what had brought about the breach in security.

According to the statement, the company expected that it would be back online in no time, and that players would not have to wait too long before they were able to resume playing their favourite games.

Fixing The Body Works

Earlier during the week, one lucky player had won $600,000. The company has however said that the win appeared to be legitimate and the player was not suspected of having committed foul play.

The company has also said that it had narrowed the problem down to a faulty assertion in the actual code itself, and that this had made it possible for rogue hackers to find a vulnerable loophole in the process. Players have also been cautioned about playing at EOS at this time, at least until all of the faulty assertions have been replaced by more solid internal programming instructions.

The company said that this situation would prevail until such time as what it has had the opportunity to conduct a proper forensic review.