In April 2017 more than 2,2 billion Stellar Lumens (XLM) recently listed on Coinbase were created by a hacker who exploited a bug in Stellar 's code, as reported by the Messari report.
Stellar has suffered an 2,2 billion XLM inflation bug in the 2017
While the Stellar Development Foundation publicly revealed and fixed the inflation bug in 2017, the media wrote little and nothing about it.
Back then 2,2 billion XLM was worth about $ 10 million, equivalent to 2,2% of the total offer of XLM available.
For Messari, XLM would have been created using the "MergeOpFrame: doApply"Which combines a"source account to a target account, thereby deleting the source account and transferring all the balance of the source account to the target balance. "
The hacker would have created further 2,2 billion XLM, exploiting 110 times the bug.
On the bug, the Stellar Development Foundation has decided to remove the same amount of XLM from its reserves.
A representative of the Stellar Development Foundation sent Messari the following:
"In April 2017, Stellar was an emerging open source project with a small but dedicated community of developers. We have eliminated Lumens to "align" the offer. [...].
"Since then Stellar has become significant financial software and that our disclosure standards have grown to reflect this reality.
There have been no relevant errors since that time, and if there had been, we would have revealed it in detail.
As we announced last month in our 2019 Roadmap, we are already committed to a complete accounting of all SDF Lumens by the end of the year".
Stellar and Coinbase are giving away 1% of all XLMs
In the meantime, Coinbase (if you are interested see ours Coinbase guide) announced that it is distributing one billion Lumens (XLM) to millions of eligible users to teach the Stellar protocol.
The initiative is part of the educational program Coinbase Earn: The Exchange has stated that every US user can get up to $ 50.
According to the Coinbase Earn website, the educational program, developed in collaboration with Stellar, would consist of five videos lasting up to three minutes each.
After viewing the videos and completing a series of matching quizzes, users will earn as a reward i XLM token see the listing of stellar .
