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- Malicious actors impersonated well-known trading platforms like OKX and Binance to deceive users in an address-poisoning attack on the EOS blockchain.
- The EOS blockchain has announced its rebranding to Vaulta, aiming to establish a scalable and secure Web3 financial ecosystem.
Blockchain security firm SlowMist has recently reported that the EOS blockchain network is facing a major address poisoning attack. Malicious actors are targeting users by sending small transactions of 0.001 EOS tokens, leveraging these interactions to execute the attack.
As per the SlowMist report, the attackers have created fake accounts while mimicking well-known trading platforms to deceive users. Thus, investors need to maintain utmost caution before trusting this sources. Notable examples include “oktothemoon,” impersonating OKX’s legitimate account “okbtothemoon,” and “binanecleos,” mimicking Binance’s official account “binancecleos.”
Address poisoning attacks are not a new phenomenon in the cryptocurrency landscape. Recently, crypto exchange Binance issued a global alert about clipper malware designed to alter crypto wallet addresses. In a notable incident last May, a Bitcoin trader mistakenly sent $70 million to the wrong address due to such malicious activity.
Interestingly, the attacks took place at a time when the EOS blockchain announced its rebranding to Vaulta, as part of its strategic shift catering to Web3 banking services. As a result, the investors have put behind the concerns related to address-poisoning attacks while driving the EOS price higher by 25% as of press time.
EOS Price Shoots 25% As Blockchain Rebrands to Vaulta
With a focus on Web3 banking, the EOS blockchain network announced its rebranding to Vaulta earlier today. As per the press release, the switch to Vaulta shall take place by May this year. Furthermore, the blockchain platform also stated that they would be introducing a new token along with establishing an advisory group known as the Vaulta Banking Advisory Council. This is the first major upgrade in the EOS ecosystem after the hardfork last year in September 2024, as reported by CNF.
The EOS blockchain said that this transition to Vaulta is done with the goal of building a scalable, secure, and inclusive financial system. Speaking on the development, Yves La Rose, Founder and CEO of Vaulta Foundation, commented:
This transformation represents more than just a name change; it’s a decisive step forward in our mission to deliver open, accessible financial access for everyone. Vaulta is the product of years of planning, strategic development, and thoughtful design, culminating in a holistic Web3 banking approach. Web3 has the potential to reshape global finance and Vaulta is at the forefront of this evolution.
As part of the transition process, Vaulta will adopt the core infrastructure of the EOS Network, which includes integration with the Bitcoin-based digital banking solution, exSat. This integration complements Vaulta’s BankingOS system, enabling a comprehensive suite of financial services.
The initiative is supported through strategic partnerships with Ceffu, Spirit Blockchain, and Blockchain Insurance Inc., enhancing the ecosystem’s offerings and capabilities.
Transition to Vaulta Token in May
In a recent announcement, the firm revealed that the EOS network’s native token, EOS, will undergo a transition to the new Vaulta Token. The Vaulta Token will be accessible on nearly 140 exchanges where EOS is currently traded and through a dedicated swap portal launching in May. Details regarding the token’s ticker and technical specifications will be disclosed at a later date, the statement added.
Well, the development has already pushed the EOS price higher by 25%, taking it past $0.61. Also, the daily trading volume has surged 660% to more than $485 million. Furthermore, the Coinglass data shows that the EOS futures open interest has surged by 48% to more than $125.60 million.
