EOS Rebrands to Web3 Bank Vaulta and Hacker Attacks on the Network: Details

The EOS Network has announced a major rebranding, transforming into Vaulta, a platform focused on Web3 banking. The full transition, including token replacement, is scheduled for late May.

According to project representatives, this move aims to build an open financial system powered by Web3 technology. Yves La Rose, founder and CEO of Vaulta Foundation, emphasized that the transformation is the result of years of planning and development.

Vaulta Banking Advisory Council and Strategic Focus

As part of the rebranding, the project has established the Vaulta Banking Advisory Council, bringing together experts from both traditional finance and Web3. The council members include:

• Lawrence Chung (Systemic Trust).
• Didier Laval (Tetra).
• Alexander Nelson (ATB Financial).
• Jonathan Rizzo (ATB Financial).

The council’s mission is to integrate DeFi into the traditional banking system while ensuring compliance with global regulatory standards.

Vaulta's core focus areas will include:

1. Wealth management.
2. Consumer payments.
3. Portfolio investments.
4. Insurance.

Additionally, instant settlements, digital identity management, and Bitcoin infrastructure integration within the Vaulta ecosystem will be powered by Exsat Network potentially unlocking new financial opportunities for users.

Following the announcement of the rebranding, the EOS token surged by 23,9% and is currently trading at $0.60 at the time of writing.

More details about the rebranding can be found in the official press release.

Hacker Attack on EOS Network

Amid the rebranding announcement, cybersecurity researchers at SlowMist detected a new attack on the EOS network.

According to their findings, hackers are using a "address poisoning" method, where they send 0.001 EOS transactions to users in order to trick them into interacting with fraudulent accounts.

Researchers identified multiple fake accounts impersonating major trading platforms. Notably, the scam account "oktothemoon" attempts to mimic the legitimate OKX account "okbtothemoon", while "binanecleos" falsely presents itself as Binance’s "binancecleos".

Security Recommendations for EOS Users

• Be cautious of unexpected small transactions in your wallet.
• Always double-check recipient addresses before initiating any transfers.
• Verify transactions using official sources before interacting with unknown accounts.

As EOS transitions into Vaulta, the network’s security remains a top priority, and users should stay vigilant against emerging threats.

This post is for informational purposes only and is not an ad or investment advice. Please do your own research making any decisions.