Pirate Chain Confirms Recent Attack, Token Supply Increased by Approximately 20%

BlockBeats news, October 16: Pirate Chain has released an update on its investigation into the exploit incident. On October 14, a transaction validation vulnerability was discovered in the Pirate Chain source code, which led to the unauthorized creation of approximately 39.8 million ARRR, increasing the total token supply by about 20%. These newly generated tokens were immediately transferred into the Sapling privacy pool. The NonKYC platform subsequently detected suspicious deposits and restricted the related accounts and blocked withdrawals. This exploit combined the failure of two validation steps: first, bypassing the inflation check, and second, an error in parsing the output script.

As a voluntary precautionary measure, dPoW (delayed Proof of Work) operators have reached a consensus to temporarily suspend notarization services; at the same time, the team has requested that exchanges and mining pools voluntarily suspend related business operations while a recovery plan is being formulated. The Pirate Chain network is still operational at present. The Pirate Chain team is investigating the matter and collaborating with other communities to develop a solution.