Pirate Chain Says Bug Enabled Unauthorized Minting of 39.8M ARRR

Pirate Chain said a transaction-validation flaw discovered Oct. 14 enabled the unauthorized creation of about 39.8 million ARRR, an amount equal to roughly 20% of the network’s supply. The new issuance raised total supply by about one-fifth, making the incident both a supply increase and a transaction-security event. The tokens later moved into the Sapling privacy pool. Pirate Chain identified two transaction-validation defects. It said there was no evidence that notarization keys or the cryptography used for private transactions had been compromised. The disclosure points to a validation flaw without establishing a failure in those protections. NonKYC restricted the associated accounts and blocked withdrawals. dPoW operators temporarily suspended notarization as a precaution. Exchanges and mining pools were asked to halt related operations voluntarily.

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