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XRP Ledger prepares Wednesday patch for flaw allowing unauthorized stablecoin creation

The XRP Ledger is scheduled to activate a security fix on Wednesday to close a loophole that could permit authorized token-burners to mint new tokens, while XRP itself remains unaffected.

XRP Ledger logo and wordmark in black against a white background.
Image: @scottmelker

The XRP Ledger is set to activate a security patch on Wednesday, as early as Nov. 4, designed to fix a vulnerability that could let stablecoin partners create unauthorized tokens, according to reports from CoinDesk and market commentators.[1][2][3][4]

The vulnerability affects stablecoin issuers by leaving open a loophole where entities authorized to burn tokens could also generate new ones. CoinDesk reported that the native token XRP is unaffected by the flaw.[1][2]

The patch was previously delayed after validator support briefly fell, resetting the network's required two-week activation countdown. The update is now back on track with 33 of 35 trusted validators endorsing the change.[1][2]

Key facts

  • The XRP Ledger is scheduled to activate a security patch on Wednesday, as early as Nov. 4.
  • The flaw allowed entities authorized to burn tokens to also print new tokens, impacting stablecoin issuers.
  • XRP itself is unaffected by the security loophole.
  • Activation was delayed after a temporary dip in validator support restarted the two-week activation clock.
  • Currently, 33 of 35 trusted validators support the amendment.

Sources · 4 sources

  1. CO

    CoindeskArticle ·

    XRP Ledger set to fix flaw that could have let stablecoin partners print new tokens The fix is on track for Wednesday after validator support briefly dipped and restarted the two-week activation clock. XRP itself is unaffected.

    Open source
  2. CO

    CoinDesk@CoinDeskPost on X ·

    UPDATE: The XRP Ledger is set to activate a fix on Wednesday closing a loophole that lets authorized token-burners also create new tokens, a security patch affecting stablecoin issuers, with 33 of 35 trusted validators already in support. https://t.co/xK1FXdlwPt

    Open source
  3. WG

    Watcher.Guru@WatcherGuruPost on X ·

    JUST IN: XRP Ledger to fix security flaw that could allow unauthorized creation of new stablecoins.

    Open source
  4. TW

    The Wolf Of All Streets@scottmelkerPost on X ·

    JUST IN: XRP Ledger $XRP set to patch a flaw that could let stablecoin partners create new tokens, as early as Nov. 4 https://t.co/X3b8fvJ9Bp

    Open source