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
XRP/USD Price Analysis: Prices stagnate as the bears and the bulls continue to brawl
Bitcoin [BTC] developer Jimmy Song lists 3 reasons why Bitcoin SV [BSV] is a “scam”
Ethereum [ETH/USD] Price Analysis: Coin stands tall with the bull by its side
SEC could include Bitwise’s Bitcoin ETF in federal registers; proposal under review for approval
XRP, BAT and Dash among the most popular cryptocurrencies for Uphold users
Ripple/XRP: XRP will soon hit Abra cryptocurrency platform, confirms CEO Bill Barhydt
DigiByte community gears up for Global Summit while founder Jared Tate finalises book on decentralized internet
Tron [TRX]’s Justin Sun sets up Valentines day surprise for Ethereum [ETH]’s Vitalik Buterin
After Bitcoin [BTC] ETF silver lining, SEC puts forth circular on ICOs
Ethereum [ETH] could have been stolen through malware impersonating MetaMask
Bitcoin [BTC] among cryptocurrencies enabled by new debit card launched by Australian Crypto exchange
Nouriel Roubini says JP Morgan’s cryptocurrency JPM Coin is a joke; compares it to XRP
Ethereum [ETH] mining rewards breach lowest levels ever as average difficulty spikes
Coinbase steps up Bug Bounty program; rewards hacker $30,000 for critical bug detection