Charlie Lee Questions EOS Last Minute Fixes before Mainnet Launch

EOS bug bounty program

Litecoin Founder Charlie Lee has criticized how much EOS are willing to pay to fix 'catastrophic' bugs found in the EOS platform. The "series of epic vulnerabilities" was found by Qihoo 360 less than a week before the EOS mainnet launch.

Charlie Lee tweeted: "Raises $4B, offers to pay only $10k for catastrophic bugs 2 days before mainnet launch. Strange. And quite a few other concerning issues with EOS. This will also be one of the biggest ERC20 token to blockchain launch. Should be an exciting day!"

The tweet was in response to Daniel Larimer, EOS CTO and Co-founder of Steemit, who asked on Twitter, for users to find 'critical bugs' in the EOS platform before the mainnet launch. He offered $10,000 for each unique bug that can result in a crash in their smart contracts. 

The bugs were found by Chinese internet security company Qihoo 360 who said that attackers can deploy malicious smart contracts to the EOS super node which will automatically execute the contract, triggering a security bug. Once the contract was confirmed in a block, it could then infiltrate all full nodes.

The EOS mainnet is set to launch on June 2. EOS London is holding a mainnet launch event at the Chartered Accountants Hall on June 1. Speaking at the event will be a special guest from Block.one and Tayo Dada, CEO of Uncloak, who recently impressed Ian Balina on his World Tour.

Charlie Lee also referenced Twitter user Panek who questioned the role of the EOS constitution in its platform. He pointed out that every EOS transaction must include a hash of the constitution and that users must abide by it or their transactions may be invalidated.

Panek references the parts of the constitution that requires users to accept penalties if they are found in breach of the rules. The constitution also says that the law of Malta will be the backup in case of any disputes that are not solved by the constitution or the Maxims of Equity. However, the constitution does restrict all users to a maximum of 10% of the EOS soon-to-be coins. This may provide some reassurance as other cryptocurrencies, including Verge, have been hit by 51% attacks in recent weeks.

Following the news, EOS dropped from $11.76 to $10.96 but is since back up to $12.01.