EOS Startup TRYBE “Retakes” (Steals) Money from User Wallets

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For most people, “blockchain” is synonymous with immutability, as every transaction is recorded on an irreversible ledger. This gives an aura of security and accountability to every action taken regarding any cryptocurrency and also pulls the weight of the responsibility on each user, knowing that transactions can’t be pulled back. But EOS is a kind of sweetheart blockchain and include tools to revert transactions, a “feature” that is highly controversial.

But there is always a first time for everything, and sadly this characteristic was used (or abused) by an EOS based startup called Trybe to retrieve some tokens sent erroneously to their users as a part of an airdrop prior to the launch of their token. Supposedly they had some technical issues while using a third party library that malfunctioned and broadcasted the operations that were made as a part of a test to their mainnet. But one would expect a serious company to suck it up and assume their mistakes, but no. The solution to the problem was using the same tool to turn back all the erroneous operations that they had made, leaving more than 100 users perplexed watching their wallets empty.

What is more amazing is the message that this startup sent to the affected users to justify, supposedly in a tongue in cheek manner, that they had made a mistake. According to a Reddit post written by an affected señor, the message said “Whoops our techy messed up. Hope you enjoyed the show”.

This kind of action speaks at how EOS is a centralized blockchain that values this kind of control over transactions and users wallet, instead of supporting the classical immutability that a blockchain has. So señores, when dealing with EOS, please remember that your wallet could be breached and operations could be reversed by third parties. So decentralized!