【Crypto Brief】Privacy coin Pirate Chain hit by exploit, with about 20% of its supply minted out of thin air
🏴☠️ The project team disclosed that on October 14, a transaction validation vulnerability in its source code was exploited, resulting in the unauthorized creation of about 39.8 million ARRR and increasing the total supply by roughly 20%. The newly minted tokens were immediately transferred to the Sapling privacy pool.
🔧 According to PANews, the vulnerability stemmed from two simultaneous validation failures: the minting check was bypassed, and output scripts were parsed incorrectly.
📉 The project team has asked exchanges to suspend ARRR deposits and withdrawals. The team is working on a recovery plan and has proposed a rollback. According to CoinMarketCap, ARRR briefly fell by about 15%.
Sources: PANews, Crypto Briefing, The Defiant
⚠️ Risk warning: Crypto assets are highly volatile. This article is for informational purposes only and does not constitute investment advice. Please exercise sound judgment and manage leverage carefully.
🏴☠️ The project team disclosed that on October 14, a transaction validation vulnerability in its source code was exploited, resulting in the unauthorized creation of about 39.8 million ARRR and increasing the total supply by roughly 20%. The newly minted tokens were immediately transferred to the Sapling privacy pool.
🔧 According to PANews, the vulnerability stemmed from two simultaneous validation failures: the minting check was bypassed, and output scripts were parsed incorrectly.
📉 The project team has asked exchanges to suspend ARRR deposits and withdrawals. The team is working on a recovery plan and has proposed a rollback. According to CoinMarketCap, ARRR briefly fell by about 15%.
Sources: PANews, Crypto Briefing, The Defiant
⚠️ Risk warning: Crypto assets are highly volatile. This article is for informational purposes only and does not constitute investment advice. Please exercise sound judgment and manage leverage carefully.