EOS security: High-risk account alert, PeckShield warns of theft from ‘rainbow’ attacks

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July 11, 2018 by
EOS security: High-risk account alert, PeckShield warns of theft from ‘rainbow’ attacks

It is reasonable to say, EOS is undergoing a hard time. After repeated hold-ups, the MainNet launch took place yet the events that adhered to consisting of freezing accounts could not be counted as pleasant. To add to that, now a blockchain safety business, PeckShield generated another trouble for the customers.

The blockchain safety company recently evaluated the security of EOS accounts and also found that some users were utilizing a secret key to significant safety dangers. The located that the major cause of the trouble is that the component of the secret key generation device permits the users to make use of a weak mnemonic combination. As well as, the secret key that’s produced in this way is a lot more susceptible to “rainbow” strikes. It can also bring about the burglary of electronic properties.

See also: EOS dips amid surging RAM prices, block producers crash

PeckShield composed, “The significance of the threat is triggered by an incorrect use third-party EOS key-pair generation devices, consisting of yet not restricted to EOSTEA. With user-provided seeds, these devices substantially help with users to produce their EOS secret sets.”

They additionally included a solution stating, “… if a basic seed is chosen (by the individual) and allowed (by the tool), the produced keys might be subjected as well as manipulated by introducing the rainbow table attack (or dictionary attack).” They stated in their blog that in order to shield damaged owners, PeckShield will certainly be launching a public service known as EOSRescuer.

Remedy to EOS protection issue
The Blockchain safety firm intends to rescue the high-risk accounts– vulnerable to rainbow assaults. They mentioned exactly how they would certainly do it– they would initially create a safe EOS account, following, make a makeshift plan to make sure that they could move the EOS equilibriums from vulnerable accounts to the safe and secure one. Afterwards is done, they will certainly return the moved equilibriums back to initial customers in a clear and also verifiable method.


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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