Messari Report Uncovers 2.25 Billion XLM Inflation Bug In Stellar’s Code In 2017; Patched Quietly
Stellar Lumens Experienced A 2.25 Billion XLM Inflation Bug in 2017
It seems that in April 2017, more than 2.25 billion Lumens (XLM) were created after an attacker exploited a massive bug on the Stellar’s network. The information was released by Messari a few hours ago. It is worth mentioning that the bug has already been patched.
Stellar Affected By A Bug In Its Code
In a recent report released by Messari, the eight largest digital assets in the market experienced an inflation bug in April 2017. The hacker was able to exploit the “MergeOPFrame::doApply” function that allowed him to create 2.25 billion XLM. At that time, these coins were worth close to $10 million.
These 2.25 billion XLM represented 25% of the circulating supply of the digital asset. There was also no media reporting the issue and the team behind Stellar did not comment on the matter. The funds created have been sold to the market at the beginning of 2017.
The company explains that they have informed the issue twice and solved the bug. They have also decided to burn the same amount of Lumens to have the same supply that they had before this issue. Stellar representatives mention that they are committed to avoiding further issues in the future.
🔎 [Messari Research] Stellar suffered (and quietly patched) a 2.2 billion XLM inflation bug in 2017https://t.co/AXcIZfXmw6
— Messari News (@MessariNews) March 27, 2019
About it, Stellar representatives commented:
“We recognize that Stellar has since become significant financial software, and our disclosure standards have grown to reflect that reality. There’s been no notable bug since, and if there were we would disclose it in full detail as soon as it was patched.”
At the time of writing this article, Stellar is the 8th largest crypto in terms of market capitalization with a valuation of $2.07 billion. Each XLM can be purchased for $0.107.
Back in October 2018, we wrote about Oyster Pearl (PRL) and how a developer called a function that allowed him to create PRL tokens. After this situation
— Oyster Protocol (@OysterProtocol) October 31, 2018
Now, the team behind Oyster Pearl is trying to work with an attorney and a private investigator to solve this issue.