An error occurred in the Bitgrin token network, because of which the user extracted 5 billion tokens in one block out of a total of 21 million possible

The Bitgrin cryptocurrency network crashed. The miner received 5 billion XBG or almost $ 18 million at the current exchange rate for finding one block. At the same time, the total issue of the asset is only 21 million tokens. Thus, the miner at a time mined 24,000% more coins than they should have existed.

One of the first to report a problem was the Coinmarketcap aggregator. On the Bitgrin page , he posted a warning about "billions of issued tokens." Later it turned out that the leading developer of the Farazen project was involved in the incident. In an interview with Cointelegraph, he said that the coins were mined as a result of a malfunction and all went to him.




Farazen noted that he transferred all 5 billion mined tokens to an address to which he and no one else have access. However, to prove this is impossible. Therefore, the developer promised to make a hard fork on the cryptocurrency network in order to convince users of removing coins from circulation.

On April 22, miners using manipulations in the PegNet stablecoin network increased the balance of their wallet from $ 11 to $ 6.7 million. Four hackers took 70% of the computing power of the system in 20 minutes, thanks to which they were able to repeatedly increase the rate of the pJPY stablecoin tied to the Japanese yen. After that, the assets were transferred to the pUSD token, but they could not be liquidated on the exchange.