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ID:

stellar-799

Date:

Status:

Incident Count:

April 1, 2017

Verified

1

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REKT

Contributor:

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zerofriction.io

KYC By:

KYC:

None

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Audit By:

Audits:

None

Loss Amount:

10,000,000

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Recovered:

-

Rewards:

Currency:

USD, XLM

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Key Indicators

Platform:

Type:

Category:

Method:

Data Sources:

Stellar Lumens

Network

Chain

Contract Vulnerabilities

Extended Method:

Logic error

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Days in Operation:

0

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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 USD). 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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