Ripple’s CTO David Schwartz commented on recent transactions involving 25.6 billion XRP, nearly $15 billion USD, which were mistakenly reported as transferred to an exchange due to a confusion, possibly an attack. The total XRP in circulation is about 54.26 billion, suggesting that nearly half was involved in the incident.
Bitfinex’s CTO Paolo Ardoino clarified that the issue was not a transaction but an exploitation of the “Partial Payments” feature in the XRP Ledger. Whale Alert initially reported the transfer from an unknown wallet to Bitfinex, which later turned out to be a misinterpretation due to a node response error, which they corrected.
Ardoino added that an attempt to exploit the Partial Payments feature to attack Bitfinex failed because the exchange properly processed the ‘delivered_amount’ data field. Schwartz, known online as JoelKatz, refuted claims of a security vulnerability in the XRP Ledger, stating that the actual amount transferred was only worth a few cents.
He thanked Bitfinex and Ardoino for effectively neutralizing the exploit attempt, emphasizing that the incident was not due to a flaw or vulnerability in the XRP Ledger. Schwartz also acknowledged Bitfinex’s competent handling of the situation, preventing any problems.
Meanwhile, Ripple’s ongoing legal battle with the SEC continues to pressure XRP, with recent events causing mixed sentiments in the market. XRP’s price was trading at $0.5765, up 0.08% at the time of writing, and has been performing differently from most altcoins since its inception.
