Cryptocurrency research firm Messari has stated Stellar (XLM), currently the eighth largest crypto, suffered an inflation bug to create 2.25 billion XLM in April 2017.

// STAY UP TO DATE – FOLLOW BLOCKCHAIN DAILY ON TWITTER: @BLCKCHAINDAILY

According to the report, the XLM was likely sold during the first half of 2017.

An equivalent amount of XLM was allegedly burned to maintain supply, circumventing possible devaluation.

The addresses involved are no longer accessible on any block explorers but can be seen on the Horizon Application Programming Interface.

The report also mentions Stellar did come forward to acknowledge the bug in the protocol’s release notes at the time of the event.

Stellar (XLM)

“We recognize that Stellar has since become significant financial software, and our disclosure standards have grown to reflect that reality,” Stellar stated.

“There’s been no notable bug since, and if there were we would disclose it in full detail as soon as it was patched.”

Last month, Stellar released its roadmap for 2019, which included a full accounting of all Stellar Development Foundation XLM by the end of the current year with more information on the 2017 bug.

// CLICK HERE FOR MORE BLOCKCHAIN NEWS

Leave a Reply