EOS Network, known for its record-breaking $4.1 billion initial coin offering (ICO) in 2018, has officially rebranded to Vaulta, shifting its focus to web3 banking.
However, the transition comes amid a new security threat targeting EOS users.
Quick Take delivers key facts fast—concise, clear, and easy to read. Perfect for busy readers.
Security Alert: Address Poisoning Attacks on EOS
Blockchain security firm SlowMist has warned EOS users of ongoing address poisoning attacks, where malicious accounts send small EOS transactions (0.001 EOS) to trick users into interacting with fraudulent addresses.
Examples of fake and real addresses include:
- Fake: oktothemoon | Real: okbtothemoon (@OKX)
- Fake: binanecleos | Real: binancecleos (@Binance)
SlowMist urges users to carefully verify transaction details to avoid falling victim to these scams.
Key Details – Shift to Web3 Banking:
- Scheduled for May 2025, EOS tokens will be replaced with new Vaulta tokens at a 1:1 ratio through a swap portal available for four months after launch.
- Vaulta will leverage EOS’s existing blockchain infrastructure, integrating with Bitcoin via the exSat platform to merge traditional finance (TradFi) with decentralized finance (DeFi).
- Collaborations with Ceffu, Spirit Blockchain, and Blockchain Insurance will enable Vaulta to offer fractional ownership of real-world assets, staking, and blockchain-based insurance.
- The Vaulta Banking Advisory Council includes representatives from Systemic Trust, ATB Financial, and Tetra Trust.
EOS tokens saw an immediate price increase following the rebranding announcement.
Historically a top 10 cryptocurrency, EOS now ranks 95th by market capitalization at the time this article is written.
“Vaulta is the culmination of strategic development, market observation, and relentless innovation. In conjunction with exSat, Vaulta unlocks the immense potential of Bitcoin, digital assets, and decentralized technology. The foundation is set. The technology is ready. The time is now. “
Vaulta statement
This Quick Take article is published on BitPinas: Quick Take: EOS Network Rebrands as Vaulta, Pivots to Web3 Banking
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