EOS is experiencing an address poisoning attack, just a day after announcing its rebranding. The chain, which was widely forgotten, is now targeted in expectation of increased activity. EOS is experiencing an address poisoning attack, which sends a small amount of tokens from spoof addresses. The attack arrives just a day after EOS announced its rebrand to Vaulta, with the mission of bridging traditional finance on the blockchain. SlowMist noticed the attack, which exploited the specific human-readable addresses on EOS. Instead of fake tokens, which are used on Ethereum and the BNB Chain, the EOS attack included spoof names of exchanges or other services. Malicious users are sending 0.001 EOS to all addresses, in a bid to confuse users when sending their tokens to exchanges. Some of the addresses imitated exchange wallets belonging to Binance or OKX, two of the main markets for EOS. 🚨 SlowMist Security Alert 🚨 Beware of address poisoning attacks on #EOS ! Malicious accounts are sending 0.001 $EOS to users to poison addresses, such as: fake: oktothemoon real: okbtothemoon – @okx fake: binanecleos real: binancecleos – @binance Stay vigilant and verify… pic.twitter.com/HQu2kgAL3E — SlowMist (@SlowMist_Team) March 19, 2025 The attack expects users to engage more actively with EOS ahead of an eventual token swap. Even before the actual swap, EOS may be sent to exchanges for trading, to make use of the latest price pump. EOS counted around 30K daily active wallets as of December 2024, but conditions may quickly change as more users return to the rebranded chain. Fake addresses rely on the user copying or using addresses from the previous trading history, instead of copying the correct destination every time. The attack also comes at a time when EOS presented its network as suitable for Web3 banking. EOS is a relatively old network, with multiple older holders. The chain already performed one token swap from its early Ethereum version to the native chain. EOS expects activity revival For years, EOS has been considered a dead network. The chain could not catch up with any of the recent trends, including Web3 gaming, NFTs and general token launches. EOS remained relatively liquid due to its legacy listings, though some exchanges started removing the asset due to low liquidity and activity. EOS also lost its native USDT, after Tether phased out the token due to low chain activity. After the news of the rebranding, EOS recovered by over 27%, to trade at $0.63. The project retained its Binance and OKX listings, allowing the token to react to the immediate news. EOS is reportedly one of the most well-funded projects, after holding a year-long public sale in a Dutch Auction format. EOS was sold in weekly periods, managing to raise up to $4.2B in ETH. The EOS platform then secured another $60M in VC funding . The EOS ETH wallet remains unknown, and there are some speculations the project recycled its own ETH during the initial auction of EOS. Despite this, EOS is considered one of the biggest public token sales, with enough financing from previous cycles to make one more attempt at becoming a Web3 hub. Despite the resources, EOS remained one of the chains with relatively small achievements. EOS had high promises of replacing Ethereum, but never became an activity hub for real use cases and apps. After the news of the relaunch, the small DeFi sector of EOS increased its activity. The chain carries several DEXs and a lending protocol, though only locking in around $200M . EOS lags behind other networks, with fewer Web3 apps choosing to build their products on the chain. EOS RAM market increases activity In expectation of increased activity, the current EOS tokens may become more valuable. EOS relies on a RAM market to secure on-chain computation. The market is valued at $15.6M after a recent spike in activity. The EOS RAM market had a brief spike after the project rebranded to Vaulta, expecting higher demand for on-chain computation. | Source: DeFi Llama In theory, EOS has achieved its mission of having a fast network with no significant lags in the past six years. The RAM market was one source of speculation and short-term earnings, independent of the token’s market price. Just weeks ago, the RAM market was also considered dead. The rebrand to the new Vaulta token may invite more apps and activities, once again sparking demand for on-chain computation. RAM may be bought up in advance, causing scarcity and price speculation. Cryptopolitan Academy: Coming Soon - A New Way to Earn Passive Income with DeFi in 2025. Learn More
