Crypto Exchange Huobi Denies Allegations Of Collusion With EOS Block Producers

Singapore-based cryptocurrency exchange Huobi has denied receiving payments from EOS Block Producers following collusion allegations that emerged last week.


Singapore-based cryptocurrency exchange Huobi has denied receiving payments from EOS Block Producers following collusion allegations that emerged last week.

Huobi denies involvement with EOS BP

EOSONE accused the Huobi cryptocurrency exchange of involvement in voter collusion with other block producers on the EOS network.

EOSONE released screenshots of a spreadsheet which it claimed showed the network block producers voting for each other. The allegations also pointed to Huobi receiving payment from other block producers.

Huobi, for its part, has denied all allegations. The exchange, which is also a block producer on the network, stated that it didn’t have any arrangement with the other block producers, according to a tweet by cnLedger.

The cryptocurrency exchange also stated that it is currently investigating the situation further to ascertain the exact nature of the problem.

EOS voting controversy

The excel sheet containing the payment information, called Huobi Pool Node Account Data 20180911, is claimed to have been put together by Huobi employee Shi Feifei.

Entries made on the spreadsheet indicated that the cryptocurrency exchange voted for 20 block producers and personally received 16 votes from the other BPs. It further showed that Huobi currently controls five nodes.

Asides the 20 BPs that Huobi voted for, Huobi nodes showed support to seven more nonfunctioning BPs.

The investigation by EOSONE stated that the seven nodes were proposed by the shEOS node on August 25. These BPs don’t have public nodes, no node interaction, no information on ownership, and no website.

EOSONE further revealed that the suspected nodes, which the group says  Huobi is no longer supporting were:

  • strongmonkey
  • greencapital
  • cochainworld
  • eoschaintech
  • eossixparkbp
  • eosorangeeos
  • voldemorteos

If the document turns out to be correct, then Huobi did receive payments from some block producers on the network. According to the excel sheet, between 5 and 11 September, Huobi collected roughly 1,116 EOS ($6,000) daily.

EOSONE revealed that the BPs involved in the payment were eosiosg11111, cochainworld, and eospaceioeos.

Local media sources in China reported that the elaborate voting manipulation seems to come from China-based EOS BPs

cnLedger in its tweet added that even though Huobi has denied involvement with the nodes financially, it has yet to deny the authenticity of the leaked file.

Controversy shouldn’t obscure recent progress

Despite EOS engulfed in controversy lately, supporters of the project believe that it shouldn’t detract from the progress being made by the network.

EOSBET has started paying dividends to its BET token holders, with the first payment to be made in November. The project made 555,555 EOS ($3.2 million) within the first five weeks of its operation.

DappRadar revealed the 63 dApps launched on the network, adding that the successful launch of Everipedia is another excellent achievement by EOS.

During a recent Bloomberg interview, CEO Brendan Blumer said that the company has established a $1 billion venture fund, EOSVC. These funds will be directed towards incubating dApps launched on the EOS network.

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