360 finds 'epic bug' worth US$10b in EOS network

China’s biggest cyber security firm 360 Technology said today that it has found an “epic bug” worth US$10 billion in EOS, a popular blockchain project.

EOS is a popular cryptocurrency token adopting blockchain technology to offer investors and companies a smart contract platform and decentralized applications. It differs from Bitcoin because it is smart contract that supports industrial-scale applications and conducts millions of transactions per second without transaction fees. 

Hackers can use the bug or exploit security vulnerability to access and control the whole EOS network and transfer EOS coins belonging to other clients, damaging the whole system and bringing losses to investors, said Zhou Hongyi, 360’s chief executive.

“It’s an epic bug valued at US$10 billion (considering booming EOS investors and market value)," Zhou said.