Ripple company’s native crypto asset XRP Approximately $15 billion in assets were moved in the token. The transfer in question represents 25.6 billion tokens, comprising on average half of the 54 billion supply in circulation.
This abnormal movement cryptocurrency managed to attract attention in the community. While the community quickly spread speculation, popular names such as Scott Melker suggested that the transaction in question could not be real. lasted.
Adam Cochran, another important name in the industry, offered a different perspective with his post questioning whether Bitfinex, a popular cryptocurrency exchange, carries cold wallets or something worse.
The size of the transaction was not only surprising, but also raised concerns about the security and stability of the XRP ledger.
Bitfinex CEO Paolo Ardoino later shed light on the situation. He explained that the transaction was actually an attempted attack on Bitfinex using a method known as a “Partial Payments Attack.”
This exploit exploits the way the XRP ledger processes partial payments, allowing attackers to misrepresent transaction amounts.
However, the exchange confirmed that the attack was unsuccessful, stating that existing security measures are quite cautious against such attacks. The attack failed because they compromised the “delivered_amount” data field, which is a critical component in preventing the attack.
The “delivered_amount” field in XRP transactions is designed to accurately represent the amount of XRP delivered to the recipient and protect against partial payment fraud.