The China-based cybersecurity firm Qihoo 360 claims to have discovered a number of serious bugs in the EOS network days ahead of its launch.

EOS is subject to "a series of epic vulnerabilities", Qihoo 360 reported in its Weibo account. In particular, some of the bugs allow arbitrary code to be executed remotely on EOS nodes and even taking full control of the nodes.

As a result, it is possible to launch a smart contract with malicious code and deploy it to EOS super nodes. After it is included in the new block, all full nodes, including backup nodes, exchanges, wallets, will be threatened.

"Due to the decentralized computing characteristics of blockchain networks. A security vulnerability in the implementation of a blockchain node may cause thousands of nodes to be attacked. Even a denial-of-service vulnerability that is considered to be relatively harmless in the area of ​​traditional software vulnerabilities may trigger storm attacks on the entire network in a blockchain network, causing a huge impact on the entire digital currency system."

The company claims to have reported the detected vulnerabilities to the EOS team.

"The person in charge of the EOS network said that the EOS network will not be officially launched until these issues are fixed."

Daniel Larimer, EOS team member, announced a bug bounty program in his twitter, offering "$10K for every unique bug that can cause a crash, privilege escalation, or non-deterministic behavior in smart contracts."

In addition, Qihoo 360 appealed to the teams of other blockchain projects, recommending them to pay more attention to security issues.

The launch of the EOS platform was announced in May 2017 and is scheduled on 2 June. Its crowdsdale started on 26 June 2017 and lasted almost a year.