A vulnerability that had been hidden for about 10 years in $XRP . In theory, it could create new coins out of thin air and break the 100 billion total supply cap — the news was made public today, and the coin price barely moved 🧐
On Binance spot, $XRP was quoted at 1.404 USD, up 0.62% in 24h, with trading volume of 111 million U (10/12 12:30).
According to CoinDesk, the issue lay in the exchange built into the XRP ledger: by placing orders across several hundred accounts and then consuming them with a single payment, the total XRP required became so large that the program miscalculated. The seller received the full amount, while the buyer paid almost nothing. The cost was only a few hundred XRP.
1️⃣ Reported on Sept. 22 by researchers Cayden Liao and Veria AI
2️⃣ Fixed in xrpld 3.4.1 on Sept. 25; more than 80% of default validators had upgraded that same day
3️⃣ RippleX said there were no signs of exploitation on the public network
My view: fixing it before disclosure means the risk had already been eliminated, not that new risk was introduced; but the “fixed total supply” branding has been re-examined, so sentiment may not be completely unaffected.
If $XRP holds the 1.40 level, it can be seen as the news having been digested; if it breaks below 1.40 on volume, then concerns are intensifying and the above view becomes invalid.
Does fixing it before making it public help XRP or hurt it?
Source: CoinDesk
$XRP #XRP #on-chain-security
#BinanceSquare
⚠️ The above is a summary of information and personal opinion only, and does not constitute investment advice. DYOR.
On Binance spot, $XRP was quoted at 1.404 USD, up 0.62% in 24h, with trading volume of 111 million U (10/12 12:30).
According to CoinDesk, the issue lay in the exchange built into the XRP ledger: by placing orders across several hundred accounts and then consuming them with a single payment, the total XRP required became so large that the program miscalculated. The seller received the full amount, while the buyer paid almost nothing. The cost was only a few hundred XRP.
1️⃣ Reported on Sept. 22 by researchers Cayden Liao and Veria AI
2️⃣ Fixed in xrpld 3.4.1 on Sept. 25; more than 80% of default validators had upgraded that same day
3️⃣ RippleX said there were no signs of exploitation on the public network
My view: fixing it before disclosure means the risk had already been eliminated, not that new risk was introduced; but the “fixed total supply” branding has been re-examined, so sentiment may not be completely unaffected.
If $XRP holds the 1.40 level, it can be seen as the news having been digested; if it breaks below 1.40 on volume, then concerns are intensifying and the above view becomes invalid.
Does fixing it before making it public help XRP or hurt it?
Source: CoinDesk
$XRP #XRP #on-chain-security
#BinanceSquare
⚠️ The above is a summary of information and personal opinion only, and does not constitute investment advice. DYOR.