There are many different wallet solutions for the different crypto assets. Not all of these platforms and services end up being legitimate, however.
In the case of EOS Ecosystem, a Chinese wallet for EOS users, things have gone from bad to worse.
Another EOS Scam has Appeared
It would appear that the online wallet has disappeared with user funds.
Several users complain about losing money to EOS Ecosystem.
It is believed that the company held as much as $52 million in customer assets.
Most of the money has been sent to the Huobi exchange, where it is converted to other currencies or fiat currency.
While exact details remain unclear, it is a worrisome development.
At this time, roughly 890,00 EOS has been taken from the wallet service and moved to Huobi.
Unfortunately for the EOS community, it is not the first time a major heist takes place.
Several actors in this space have anything but honest intentions.
Recovering the missing or stolen money will be difficult, as it usually is within the ecosystem.
Huobi will try to freeze as much of the stolen funds as possible, but that will pose its own set of challenges.
EOS Ecosystem is only the latest in a growing list of scams pertaining to EOS, unfortunately.