ID:
stellar-799
100 pts
Platform:
Type:
Category:
Method:
Data Sources:
Stellar Lumens
Network
Chain
Contract Vulnerabilities
Extended Method:
Logic error
Days in Operation:
0
100 pts each
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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