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Detail Analysis

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Date:

Status:

Count:

Contributor:

April 1, 2017

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Verified

1

zerofriction.io

Loss Amount:

10,000,000

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Recovered Amount:

-

Currency:

Dollars, XLM

KYC By:

Audit By:

None

None

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Website:

No data

Twitter:

No data

Discord:

No data

Telegram:

No data

Medium:

No data

Github:

No data

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Key Indicators

Platform:

Type:

Category:

Method:

Stellar Lumens

Network

Chain

Contract Vulnerabilities

Extended Method:

Logic error

Data Sources:

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Messari, a cryptocurrency research organization, announced on the 27th that Stellar's blockchain protocol had an inflation loophole in April 2017. An attacker used the loophole to create 2.25 billion XLM (worth about 10 million US dollars). This bug was discovered by the Stellar Development Foundation (SDF) and patched after the accident. Per the report, the illicitly created XLM — which was equivalent to nearly a quarter of the circulating supply — was moved to exchanges and likely sold during the first half of 2017. An equivalent quantity of XLM was purportedly burned to preserve the intended supply and avoid the dilution of the value of the tokens.

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DISCLAIMER: While Zero Friction LLC has used the best efforts in aggregating and maintaining this database, Zero Friction LLC makes no representations or warranties with respect to the accuracy or completeness, and specifically disclaim any implied warranties of merchantability or fitness for any particular purpose. 

Under no circumstances, shall Zero Friction LLC be liable for any loss of profit or funds, any regulatory or governmental penalties, any legal costs, or any other commercial and non-commercial damages, including but not limited to special, incidental, consequential, or other damages from any or all usage of the dataset or information derived from our database.