Someone just faked an EOS transaction worth $3 trillion

11 Mar, 2019 | Updated: 11 Mar, 2019
by Will Heasman
Price Action
Someone just faked an EOS transaction worth $3 trillion

A transaction of 1 trillion EOS alerted the crypto circles of social media today, causing equal measures of shock and awe, and just a smidgen of FUD… However, much to the relief of almost everyone, the transaction was faked. So what happened?

Just over an hour ago the Twitter account, Whale Alert - known for tracking, and reporting upon large transactions throughout the crypto ecosystem – notified crypto Twitter about an apocalyptically inordinate transaction of 1 trillion EOS, amounting to a USD equivalent of over $3.6 trillion.

The transaction was supposedly made from wallet to wallet:

The community was quick to respond:

However, as some keen-eyed crypto aficionados pointed out, this transaction was, of course, impossible.

According to coinmarketcap the current circulating supply of EOS is only 906 million:

https://i.gyazo.com/6fe110c8e406cdfc71f43d0eab63a382.png

Moreover the total supply is just over 1 billion, meaning that this transaction would have been 1000 x the total supply of EOS. Quick math.

This was rectified by Whale alert who realised their mistake, all too late:

After some digging, Whale Alert relayed that and EOS user going by the (tasteful) moniker “fuckhacker.x” managed to create a fake transaction. This was picked up by EOS and removed but not before Whale Alert had broadcast the transaction.

Read more: Whale Watching: $148m combined BTC whale moves beat out XRP and ETH

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