Cornell university science professor, Emin Gun Sirer has predicted that EOS will be a victim of an enormous hack. After a series of tweets earlier this week, Emin Gun Sirer believes that the hackers will take advantage of the vulnerability of EOS in the near future. EOS completed a $4 billion ICO earlier in the month, which record breaking. However, in a surprising development, they have recently suffered from a full-service outage over the past weekend. This event has shaken the already little confidence investors put into the market. In the tweet that Sirer posted, he said:
“I’m calling it: there will be a massive exchange hack within the next year, taking advantage of an EOS vulnerability. That exchange will lose its hot wallet. Hackers will send the proceeds to downstream exchanges where they will trade into other coins.”
Bitcoinist has stated in the run up to the aftermath of the ICO, that EOS has been facing growing criticism from both ends of its management, as well as rumours of decentralisation. This has introduced controversy over whether the token is truly valid, the giant ICO contrasting with an established admission into the projects whitepaper that it doesn’t serve any real meaning. After having a problem with project ethos, Sirer teamed up with the many figureheads in the industry who are always ones to show their lack of confidence in the industry. Developers worked hard to resolve the weekend’s bug with a fix that granted the platform to continue its process. Sirer warned that fixing up these issues are just tempera solutions and will not be effective forever. He went on to say:
“You can’t incrementally patch your way to correctness. Testnets help find bugs but lack of bugs in testnet doesn’t provide any assurance of correctness.”
He continued:
“In the same vein, you can’t start out with some bricks, beams and cables over a body of water, patch the holes where cars fall into the ocean, and end up with a load-bearing bridge.”