- 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.
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