CoinMarketCap warns of an unusual XBG release
#CoinMarketCap warned on June 4 that it had received reports that XBG had launched billions of tokens despite having a ceiling of 21 million.
This warning is now available on the BitGrin page on the Coinmarketcap website.
The coin was launched on January 21, 2019 by an unknown team of developers.
Pharazen, Bitgrin's main developer, said that exactly five billion XBGs were created as a reward for a block and that the total supply of this coin reached 5,021,000,000 XBG.
He added that he knew the anomaly originated from a bug in the system and that he had mined the block.
He transferred the coins to an address he did not have access to to make them inaccessible, although he acknowledged that this was not provable.
Pharazen has promised to implement a hard fork on the network to make these new coins inaccessible.
In late 2018, the same thing happened with Bitcoin Private (BTCP), creating a new 2.04 million BTCP.
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