XRP Ledger to Fix Flaw Allowing Unauthorized Stablecoin Minting, Earliest Rollout Nov. 4

XRP Ledger is set to fix a vulnerability that could allow unauthorized additional issuance of tokens such as stablecoins. The issue does not affect XRP’s own supply.

CoinDesk reported on Nov. 2 that XRPL is poised to apply the "fixCleanup3_4_0" update on Nov. 4.

The update fixes a flaw that, under certain conditions, allowed an account authorized only to burn tokens to mint new ones as well. For example, if a stablecoin issuer gave a payment company permission only to burn redeemed tokens, that company could previously have been able to issue new tokens.

The vulnerability applies only to tokens issued on XRPL, including stablecoins, and does not affect XRP’s native supply.

The update currently has support from 33 of 35 trusted validators. Changes to XRPL transaction rules take effect only after more than 80% of validators back them for two consecutive weeks.

The update had originally been scheduled for Oct. 23, but the two-week approval period restarted after validator support briefly fell below the threshold on Oct. 21. If current backing holds, the earliest rollout date is Nov. 4.

The update also includes fixes for calculation errors that can occur when token issuers withdraw assets from transaction pools or when users deposit and withdraw assets from vaults. It also addresses a problem that could incorrectly mark loans as delinquent or in default before maturity.