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Blockchain hustler beats the house with smart contract hack

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A wily hacker has scored a thousand dollar cryptocurrency jackpot – 24 times – by using their own code to tamper with a smart contract run by a betting company on the EOS blockchain.

EOS is a blockchain-based cryptocurrency launched by Block.one, and it is a competitor to the more established Ethereum.

Unlike Bitcoin, which uses a blockchain to record the transfer of digital currency, EOS and Ethereum both enable people to run computer programs. These programs are called smart contracts, and instead of running in one place they run on many computers connected to the blockchain.

Smart contracts can do similar things to more conventional programs on the regular internet. They can run ecommerce sites, digital currency exchanges, and games. In this case, a Maltese company called DEOS Games was using the EOS blockchain to run a gambling game.

Customers send a quantity of the EOS cryptocurrency over the network to DEOS smart contracts running Lotto, Blackjack or Roulette. A smart...(continued)

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