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Binance on the EOS blockchain?
Binance on the EOS blockchain?
Blockchain

Binance on the EOS blockchain?

By Alfredo de Candia - 21 Feb 2020

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A few weeks ago an account was created on the EOS blockchain called “Binance Stake”, which yesterday also registered as Block Producer (BP) to participate in the management of the blockchain, first passively and then actively as soon as it reaches a sufficient number of votes.

As is known, to join the 21 BPs that manage the EOS blockchain it is necessary to have at least over 300 million votes. In just one day, this “Binance Stake” account already reached 15 million votes.

It is interesting to note that this account uses the name of Binance, but among its info, there is only the exchange website and nothing else. Looking deeper into the information related to this account shows that plenty of other data are missing such as APIs, ownership, code of conduct, etc…

Binance stake

Moreover, all this coincides with a report published by Binance on EOS and its governance, so perhaps some hackers wanted to exploit this to their own advantage. Worth noting is the creation of another account, calchuluseos, which staked 310 EOS.

Since Binance has not stated anything about this and since the information is suspicious, there is a 90% that it is a fake. This was also confirmed to The Cryptonomist by a source close to the exchange.

Besides, a possible explanation for this fake lies in the same name chosen by the account, Binance Stake, which could have been used to lure unsuspecting blockchain users to vote for this BP thinking that it really represents the popular exchange.

If so, using the marketing power of Binance as an exchange could bring this Block Producer to the top 21 without much effort in accessing and managing part of the EOS blockchain, as well as receiving the BP rewards.

Alfredo de Candia
Alfredo de Candia

Android developer for over 8 years with a dozen of developed apps, Alfredo at age 21 has climbed Mount Fuji following the saying: "He who climbs Mount Fuji once in his life is a wise man, who climbs him twice is a Crazy". Among his app we find a Japanese database, a spam and virus database, the most complete database on Anime and Manga series birthdays and a shitcoin database. Sunday Miner, Alfredo has a passion for crypto and is a fan of EOS.

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