1.0 What do we mean by Suspicious Accounts?
Accounts on EOS that are either involved in or are about to engage in significant transactions to acquire funds from other accounts without the consent of their rightful owners are commonly referred to as suspicious accounts.
2.0 Activities of a Suspicious EOS Account
An EOS account that is deemed suspicious engages in activities that violate the standard practices and regulations of the cryptocurrency industry. The range of illegal activities that such accounts may be involved in includes but is not limited to fraud, money laundering, ransomware attacks, network breaches, giveaway scams, investment fraud, use of mixing services, and participation in fake exchanges.
3.0 How to identify a suspicious EOS account?
Due diligence is vital to prevent the loss of funds when transacting with an unfamiliar EOS account essential tool. Blockchain explorers provide relevant information on the account and associated transactions, while entity analysis tools can aid in understanding the account's activities. When dealing with an unknown account, verifying if it connects to a highly risky known account is crucial. KYC-verified EOS accounts are a comparatively safer option to transact with.
4.0 System Accounts in the EOS Blockchain
The genesis of the EOS blockchain is marked by the presence of a single account, eosio, which is responsible for creating all other system accounts. These system accounts possess significant power and can execute transactions without undergoing standard authorization checks. Each system account has a crucial role in ensuring the blockchain's proper functioning. Table 1 highlights some important system accounts and their respective functions within the blockchain.
Table 1: System accounts in the EOS Blockchain
Account | Role in the Blockchain |
eosio | The main system account in the EOS blockchain. This account creates all other system accounts. |
eosio.msig | It facilitates the signing of a multi-sig transaction proposal. |
eosio.wrap | It simplifies block producer superuser action. |
eosio.token | It allows users to create, issue, and manage tokens. |
eosio.names | It holds funds from the auction of all namespaces. |
eosio.bpay | It pays the block producer for producing blocks. |
eosio.prods | The account represents the union of all current active block producers’ permissions. |
eosio.ram | It keeps track of the SYS balances based on users’ actions of buying or selling RAM. |
eosio.ramfee | It keeps track of the fees collected from users’ RAM trading actions: |
eosio.saving | It holds a certain percentage of inflation tokens. |
eosio.stake | It holds staked tokens. |
eosio.vpay | It pays the block producers accordingly with the votes won. |
eosio.rex | It keeps track of fees and balances resulting from REX-related actions execution. |
eosio.evm | EOS EVM Contract account. |
5.0 Lookalike System Accounts
In the EOS blockchain, there exist accounts that resemble system accounts, but in reality, they are not. Some of these accounts that may be mistaken for system accounts include:
You must take extra precisions while transacting with these accounts.
6.0 Fraudulent EOS Accounts
Here is the list of suspicious EOS accounts:
7.0 Conclusion
It is always wise to conduct thorough research before transacting with any EOS account, regardless of whether it has been flagged as suspicious. However, taking extra precautions when dealing with suspicious accounts is essential to safeguard your funds and protect against fraudulent activity. These precautions may include verifying the account's KYC status, analyzing transaction histories, and checking for suspicious connections to high-risk accounts. By taking these steps, you can minimize the risks of transacting with unknown accounts and protect yourself from potential losses.
Author: Sukanta Manna
Editor: Markus Hinrichs, Randall Roland
Sources & References: