In the cryptocurrency world, stealing funds is nothing new under the sun whatsoever. While most of these thefts involve hacking exchanges or scamming users, it seems the recent $7.7m worth of EOS theft is a bit different. An internal mishap involving the 21 block producers has caused a very unfortunate incident to materialize.
The $7.7m EOS Theft Explained
A few days ago, the EOS community was made aware of an issue which would see a major account compromised. While the owner and the hacker remain unclear at this point, the account contained several million dollars worth of EOS. It is also not sure if this account is linked to an exchange or is set up properly. However, the end result is the exact same, as the funds were compromised by an assailant.
To put this story in its proper perspective, the EOS technology has a built-in…