Connect with us

Altcoins

EOS [EOS] raises eyebrows; freezes twenty seven accounts

Ipsita Das

Published

on

EOS [EOS] raises eyebrows; freezes twenty seven accounts
Source: Pixabay

EOS [EOS] finished its MainNet token exchange on June 22nd, 2018 and it is raising eyebrows with yet another news. In an “Emergency Measure of Protection Order”, the EOS Core Arbitration Forum [ECAF] – an independent body for the EOS community advised the block producers who maintain the EOS ledger to not operate transactions from 27 different wallet addresses.

Following is an excerpt from the order:

“It is hereby ordered that the EOS [EOS]  Block Producers refuse to process transactions for the following accounts and keys indefinitely. [Until further official notice and instruction from the ECAF.]”

The reason for ECAF blocking the account was specified a few hours later by an EOS arbitrator. The release applies to every account listed in the order, and to every related ECAF Claim. All the accounts for the Emergency Measures of Protection were listed according to the formal claims submitted by the people to the EOS Core Arbitration Forum.

The substance of each of the claims specifies that the claimant is the rightful owner of the EOS account and the tokens that have been removed from their account without their consent. Also, that they are unable to access their accounts due to hacking or phishing or scamming and they are of the opinion that their account is at a risk of losing funds.

For every person, EOS or claim, the claimants submitted strong evidence to ECAF which stated that they are the rightful owners of their accounts. They agreed to freeze the accounts pending further investigation and accept that it may not be possible to protect any funds.

The order, signed by Sam Sapoznick, a blockchain realist, has caused a lot of brouhaha in the EOS community. For critics, the order proved that EOS is not a decentralized network but it is subjected to control by something akin to a government.

This is not the first time EOS transactions have been censored. Seven EOS accounts, compromised by a phishing scam were frozen by to stop thefts on June 17th. The community was divided into supporters and opponents. A Redditor called twelker1625 commented on a thread discussing the topic saying,



“The accounts were frozen at the request of the rightful owners after they submitted proof. Though the system is still in its infancy and not finalized, it is working as it was designed to do.”

A Redditor called nootropicat commented that civil asset forfeiture meets blockchain. He referred to the law enforcement practice of seizing private property based solely on the suspicion that a crime has been committed.

Supporters of the order specified that the frozen addresses are likely involved in phishing scams that targeted investors during the occasionally chaotic migration from the Ethereum blockchain to the freestanding EOS blockchain.





Subscribe to AMBCrypto’s Newsletter




Follow us on Telegram | Twitter | Facebook



Ipsita Das is a full time writer in AMBCrypto. She is a Journalism, English and Psychology major from Garden City University. Her passion, and enthusiasm for blockchain technology and cryptocurrencies has led her to be a part of AMBCrypto. She currently does not hold any value in cryptocurrency or its projects.

Continue Reading
Advertisement
1 Comment

1 Comment

  1. Avatar

    dallas

    June 24, 2018 at 3:21 PM

    EOS get worse. ‘Brock Pierce’ founder of Block one (a Registered company in the Cayman island), he’s the founder of Bitfinex and Tether and controls four of the 21 EOS block producers.
    Rumours suggest that block.one is pumping eos.

Leave a Reply

Your email address will not be published. Required fields are marked *

Bitcoin

Bitcoin’s [BTC] biggest threat is its users, not governments, says Bitcoin.org’s Cobra

Febin Jose

Published

on

Bitcoin’s [BTC] biggest threat is its users, not governments, says Bitcoin.org’s Cobra
Source: Pixabay

Bitcoin [BTC], the world’s largest cryptocurrency, saw a significant surge earlier this month, helping the coin break strong resistance at $5,000 and $5,200. Following the great fall of the king coin in early 2018, the Bitcoin ecosystem was struggling with scalability and technological issues, eventually leading to the hard fork.

Bitcoin.org’s Cobra, who is also the co-owner of Bitcointalk.org, has always maintained that Bitcoin was the cryptocurrency to look out for through his various Twitter bouts with prominent personalities in the cryptoverse. Due to his strong, unbridled support for Bitcoin, he has often trashed altcoins for their low market dominance.

In a new Twitter thread, Cobra spoke about the “biggest threat” to the Bitcoin ecosystem. Even though many crypto-enthusiasts believe that governments and technological issues were the biggest threats to the king coin, Cobra had a completely different opinion.

According to the Bitcoin maximalist, users have the potential to signal Bitcoin’s doom. His tweet read,

Source: Twitter

Source: Twitter

Though most Bitcoin supporters usually support his opinions, this tweet was met with a lot of resistance. Twitterati swarmed the thread in an attempt to prove him wrong. A user named @MrHodl alleged that this could not be true as Bitcoin had “no community.” He added that this, in turn, prevented toxicity in the ecosystem.

Cobra replied to the tweet stating,



“I think there is a community, it’s just not fully representative of everyone with a stake in Bitcoin. Most holders are quiet and not too familiar with what’s going on. There’s people with 1000+ BTC and they don’t engage at all with discussion platforms, just lurk.”

Some Twitter users took it as an attack on Bitcoin investors and opposed Cobra’s stance. A user @CarstenBKK commented,

“Maybe I am lost in translation. What do you wanna tell us? That you are part of Bitcoin network of people owning/using it, but you are just disgusted by the idea, that the network is called community in the sense of direct human collaboration and affection to the groups ideals?”

Previously, Cobra had accused Twitter’s Jack Dorsey and Square Crypto of pandering to Bitcoin users, while also suggesting that the crypto project was merely a way to bring in more users for Dorsey’s CashApp. His tweet read,

“Gotta respect how hard @sqcrypto is pandering to Bitcoiners. Very clever how @Jack has embedded himself in the community; in return the community promotes @CashApp, which gives that service a small but dedicated and activist group of early users.”





Subscribe to AMBCrypto’s Newsletter


Continue Reading

Trending