HomeBlockchainSecurityEOS Ecology: the biggest scam on EOS

EOS Ecology: the biggest scam on EOS

As reported by a Chinese media and also by some users who then tweeted about it, the dApp EOS生态 (EOS Ecology) proved to be a scam, sending its users an error message, not letting them connect to their funds.

The dApp, created by a Singapore company, provided users with a wallet that could also be used to store an internal token, called “eos eco-coin”, with which they could access their node leasing service, node information and so on. EOS Ecology was also a trading platform.

As far as could be observed, being EOS a public blockchain, the dApp account, w.io, has transferred in the last days, both directly and indirectly through different accounts, a frightening amount of EOS: slightly less than 20 million EOS, more than 50 million dollars at the current exchange rate, which ended up in the address of the Huobi exchange.

This is the biggest scam ever seen within the EOS blockchain: in a couple of days, this exit scam managed to drain the accounts of those who had deposited EOS within the application. Now, these users no longer have a chance to recover them.

Unfortunately, in this sector, criminals are always waiting around the corner and operate with every means they have at their disposal, managing to exploit leaks and problems like the ones of the last few days that have been committed against decentralized finance (DeFi) with a loss of millions of dollars due to a hack against Uniswap and dForce.

As always, it is worth remembering one of the first rules to learn in this area: do not use tools that are not secure or that involve centralized management of funds, opting for decentralized platforms.


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.