The EOS saga continues – Seven EOS accounts frozen

The EOS saga seems to be getting more complicated over time. Seven EOS accounts which were compromised by a phishing scam were frozen by the network’s 21 block producers ultimately leading to a constitutional crisis for the EOS government.

This was an EOS911 initiative- a new security protocol basically designed to recover stolen funds and help the victims of phishing scams. The problem began when several accounts fell victim to the phishing scams. The block producers faced contempt for knowingly violating the rules of the EOS Constitution.

The London based EOS block producer EOS42, the source of the news said:

“Given the sensitive nature of this case, Block producers debated this difficult decision for over two hours today on a call. On the one hand, we could protect token holders, on the other this on a surface appears a dramatic overstep of our role in the constitution and BP agrement, which is to be the executor of the arbitration decisions, not to also be a judge and jury.”

According to the CNN reports, the EOS Core Arbitration Forum [ECAF], the body to whom this specific decision was delegated initially refused to have the accounts frozen since such actions can be authorized only by the blockchain’s arbitrary bodies. EOS block producers can only execute the decisions.

Article III of the EOS Constitution highlights the breach:

“The Members grant the right of contract and of private property to each other, therefore no property shall change hands except with the consent of the owner, by a valid Arbitrator’s order, or by a community referendum.”

Responses have been mixed. Bitcoin multimillionaire Charlie Shrem tweeted:

“If crypto mass adoption involves someone having the power to control,freeze or reverse a transaction. If it involves someone having the power to edit or reverse data on the chain. If it involves losing immutability, then crypto mass adoption is not worth having.”

Well-renowned author, Domenic Thomas tweeted:

“Mass adoption is never going to happen as long as long as users can lose everything by losing a private key or getting hacked. Just the way it is. We may believe it’s foolish but the average person doesn’t really want freedom. They’ll give up a lot to feel protected though.”

There were some such as EOS Nation- a community of EOS advocates who defended the move in favour of EOS. They said:

“Why the #BlockProducers proceeded with the accounts freeze?Yves, from @EOS_Nation, give us the reason why the #BlockProducers acted this way, and why a #GovernedBlockchain is so important for the [email protected] @eosnewyork @EOS_Canada @cannon_eos yout.ube/GXdnk9GdwEg”

There is no ratified constitution for an EOS network. EOS42 thought that it would be better to freeze the accounts since the constitution is not codified, rather it is ratified. A procedure was also offered by EOS42 through which the users can judge if their accounts were compromised. The account will be unfrozen otherwise.

Just days after the launch of its mainnet, this violation ads up to the stream of controversies faced by EOS.

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