Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
Home»TRADING NEWS»Failed attempt to exploit XRP’s partial payment feature
TRADING NEWS

Failed attempt to exploit XRP’s partial payment feature

By Crypto FlexsJanuary 16, 20242 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Failed attempt to exploit XRP’s partial payment feature
Share
Facebook Twitter LinkedIn Pinterest Email

A recent blockchain anomaly that allegedly resulted in the transfer of nearly $15 billion worth of Ripple XRP to cryptocurrency exchange Bitfinex has caught the attention of the cryptocurrency community. The transaction was first reported by blockchain tracking service Whale Alert, which showed 25.6 billion XRP moved from an unknown wallet. This amount represents almost half of the circulating supply of XRP.

Deleted Post: Source:

Withdrawal of Whale Alert and Bitfinex’s Clarification

However, Whale Alert later retracted the claim, citing problems reading Ripple node responses. Accordingly, Paolo Ardoino, Bitfinex’s Chief Technology Officer (CTO), clarified the situation. He revealed that the transaction was actually part of a failed exploit attempt known as a “partial payment exploit” that targeted Bitfinex.

🛠️ I had trouble reading the content properly. #ripple Node response causes several incorrect posts. Problem solved.

— Whale Alert (@whale_alert) January 14, 2024

Understanding partial payment exploits

This exploit relies on a vulnerability in the way certain platforms handle XRP transactions. If the system is improperly configured, only the ‘Amount’ field of the transaction can be read, and an attacker can set this to a high number. In reality, the exploiter sends a much smaller amount specified in another transaction field, hoping to receive credit for the higher counterfeit amount.

Bitfinex’s safeguards against abuse

Fortunately, Bitfinex has implemented adequate safeguards against such exploits. Ardoino emphasized that Bitfinex thwarts attack attempts by properly handling the ‘delivered_amount’ data field in XRP transactions. This field accurately reflects the actual amount sent, negating any attempt by an exploiter to exploit any discrepancies.

Attempted abuse by Binance

Exploit attempts were not limited to Bitfinex. Blockchain data showed a similar attempt by Binance involving the transfer of 58.9 billion XRP. Like Bitfinex, Binance’s systems were not compromised by these exploit attempts.

Beware of abuse in cryptocurrency transactions

This incident highlights the importance of strong security measures and accurate transaction processing mechanisms in the cryptocurrency exchange space. It also highlights the ongoing challenges in protecting digital assets from innovative exploit attempts.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

TOKEN2049 Singapore stops all records with the world’s largest Web3 event with 25,000 attendees in unprecedented demand.

September 3, 2025

Korean sleeves cut Tesla and pivot with encryption stocks.

September 2, 2025

NFT sales in August increased 2.78% in July 2025

September 1, 2025
Add A Comment

Comments are closed.

Recent Posts

Cardano founder says Chainlink quotes ‘ridiculous price’ to them.

September 3, 2025

Acurast launches ‘Staked Compute’ and challenges AWS, Azure and Google Cloud using the distributed smartphone network.

September 3, 2025

Solana-packee blockchain manually spreads

September 3, 2025

Bybit Card Launches In Europe With Unmatched 20% Cashback

September 3, 2025

GiftlyCard.com Recognized As Verified And Secure By Independent Review Sites

September 3, 2025

Embodying “Simple Mining, Smart Gains” For Effortless Crypto Accumulation

September 3, 2025

TOKEN2049 Singapore stops all records with the world’s largest Web3 event with 25,000 attendees in unprecedented demand.

September 3, 2025

Simultaneously Mine Dogecoin (DOGE), Ripple (XRP), And SOL

September 3, 2025

Simultaneously Mine Dogecoin (DOGE), Ripple (XRP), And SOL

September 3, 2025

Cango Inc. Announces August 2025 Bitcoin Production And Mining Operations Update

September 2, 2025

BitMine Immersion (BMNR) Announces Release Of August Investor Presentation And Latest Video Message From Tom Lee, Chairman

September 2, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Cardano founder says Chainlink quotes ‘ridiculous price’ to them.

September 3, 2025

Acurast launches ‘Staked Compute’ and challenges AWS, Azure and Google Cloud using the distributed smartphone network.

September 3, 2025

Solana-packee blockchain manually spreads

September 3, 2025
Most Popular

Classic ‘Rektember?’ 5 Things to Know About Bitcoin This Week

September 2, 2024

Here’s what’s driving Shiba Inu to recover above $0.00001:

February 28, 2024

Crypto analysts predict that the price of XRP will explode 58,000% to $352.

December 28, 2023
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.