ETH Gas Prices Surge Due to FOMO3D Clone
According to an analysis conducted by Amberdelta, a digital contact connected to a cloned version of the game, FOMO3D, has been the root cause of a recent congestion on Ethereum. FOMO3D transactions involving its base contract have resulted in ETH Gas prices skyrocketing up to 140 percent in just the last week. The game itself was created by an unidentified group of developers operating under the name of Team JUST in a mocking fashion as to what the current state of the cryptocurrency market has become.
FOMO3D allows players to purchased access to Ethereum passwords as a means of winning ETH handled through the digital contract. The last purchase of a key before the clock strikes zero will win all the Ether held within the contract and with each purchased key, an additional 30 seconds are added to the game’s countdown clock.
As of now, the contract holds almost 22K Ether and the clock holding at around three minutes. An important note is that the smart contract itself is not causing the congestion on Ethereum but the responsible body seems to be a clone operating under the handle of Lastwinner. As of now, no public interface has been revealed by the suspect, although an announcement by the game’s developers has issued warnings of a possible scam in play.
As of now, ETH is reportedly being sent and received from the contract itself to trick players into what seems like an incredibly active game. The team behind FOMO3D has stated that there is a huge possibility of the syndicate involved simply stealing all the funds within the joint wallet and vanishing with all the winnings. A positive note on the matter is that this entire situation has been testing the sturdiness of the Ethereum network and its stress handling levels.
Many speculated that ETH crypto-miners were essentially conspiring together to determine the winner of the game. Should this prove to be the case, it has undoubtedly shaken the ETH community and opened up more eyes to its weaknesses.