In the final days before the mainnet launch, numerous hackers and email spammers were targeting EOS token users. People were sent untrustworthy messages urging them to register their tokens on a fake site where they were then stolen.
The means of achieving this was somewhat shocking: hackers managed to breach the EOS support desks, run by Block.one. They would then use the contact details listed to send legitimate-looking emails to fans and investors. These emails contained the subject line ‘Upcoming June 1st Update!’ and were maliciously sent from the official EOS helpdesk. The emails stated that the Block.one had created a website specifically designed to help people register their tokens before the mainnet launch— the link to that site will not be provided in this article.
Block.one has since announced that the messages were in ‘no way affiliated with Block.one or EOSIO,’ but the damage may already be done. They have further stated that they take ‘information security seriously and we encourage everyone in the community to remain on high alert for scams, phishing, hacks, and other activities from bad actors as the end of the token distribution occurs.’
This was not the only scam that EOS users fell for, but it was the most professional. One of the currently stickied posts on the EOS subreddit advises users to stay safe. The post, ominously named ‘Don’t. Do. Anything.‘ advises people to stay put ‘until you’ve heard from at least 5 Block Producers you trust that it is safe to do so.’
Why are there so many EOS scams?
EOS investors seem to be more susceptible to scams than other crypto users. This is no fault of the investors themselves but rather the complicated way in which EOS is set up. Registering your tokens on the mainnet was not an easy task, and required a little technical know-how. Perhaps more than most fans initially thought. People have complained numerous times about how cumbersome the process was to set up. This gave scammers a unique opportunity to prey on users by offering simplified methods for registering. They recognized that many fans were daunted by the situation and exploited it.
As June 1st has passed, most of these scams have disappeared, so EOS enthusiasts have one less problem to worry about. As for whether there will be more scams in the future, that is hard to tell. EOS’ design is highly sophisticated and requires a great deal of responsibility from its users, so scammers could still be out there hatching new plans.
Kai is a cryptocurrency copywriter and professional trader. He can often be found investigating various cryptocurrencies, whitepapers, and blockchain technologies. Kai has been a professional writer for 5+ years, and has invested in 50+ different coins and tokens. He also currently studies Law and Philosophy at university.