New AnChain.AI report claims 75% of EOS transactions come from malicious bots

  • More than 51% of EOS unique wallets and 75% of all EOS transactions bot generated.
  • The study questions the integrity of the existing data supporting EOS $6.5 billion market capitalization.

A new shocking report researched by says that more than $6 million worth of EOS transactions come from bots and not real people. The research firm concentrates on providing the cryptocurrency industry with AI-powered security. The report says that the bot-made transactions have been racking up the numbers since the first quarter of 2019. The study focused on malicious bot programs that execute on EOS ecosystem.

Moreover, the study unearthed that over 51% of all unique EOS accounts as well as 75% of all transactions were coming from bots. Although EOS is the 6th largest crypto in the world, this research questions the existing data supporting EOS $6.5 billion market capitalization.

This means that data like the transaction volume, blockchain user activity as well as daily volumes are inaccurate and definitely manipulated. The CEO of AnChain.AI, Victor Fang stresses that the malicious bots are designed and programmed to congest the EOS ecosystem in order to increase liquidity and also boots the token’s ranking.

The issue is not just unique to EOS as the report says that the five Ethereum addresses utilized 50,000 malicious bots to make $4 million through the exploitation of a flaw in a game of gambling.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin price prediction: All eyes on the $8,530 support line as BTC/USD sinks

BTC/USD is on course for charting three bearish days in a row. The sellers dropped the price of BTC/USD from $8,764.45 to $8,631.70 this Thursday. So far this Friday, BTC/USD has fallen further to $8,601.15.

More Bitcoin News

Altcoin segment: bullish war drums

Sunny King, the creator of the consensus protocol Proof of Stake (PoS), has stated in a recent interview that Bitcoin has a vital role as a reference value in the crypto-verse, but that the highest growth potential is in the Altcoin segment.

More Cryptocurrencies News

ETH/USD hovers around $185.00, vulnerable to further losses

ETH/USD is trading at $185.27 at the time of writing, having recovered from the intraday low of $184.11. The second-largest digital asset with the current market value of $18.8 billion has lost 1.34% of its value since the beginning of Thursday and stayed mostly unchanged on a day-to-day basis. 

More Ethereum News

Ripple price prediction: XRP/USD smashes below critical support of $0.2700 – Confluence Detector

Ripple’s XRP extended thee sell-off to $0.2633 on Thursday. The coin is moving in sync with the market, controlled by bearish sentiments. A sustainable move below $0.2700 support bodes ill for XRP's short-term forecast, making it vulnerable to further losses.

More Ripple News


Bitcoin Weekly Forecast: Bulls wasted their chance

Bitcoin has been oscillating in a depressingly tight range since the beginning of November. Vanishing volatility makes it harder to engineer a decisive breakthrough from the range. 

Read the weekly forecast