A validation flaw linked to the Ironwood upgrade allowed an attacker to create approximately 39.8 million ARRR without authorization, representing nearly 20% of Pirate Chain’s total supply. The development team confirmed the incident on October 14, 2026 and advised users to refrain from moving their funds. Exchange NonKYC blocked deposits and froze withdrawals tied to the exploit to prevent conversion of counterfeit tokens. The team is proposing a blockchain rollback to the state as of 20:00 UTC on October 14 to discard all blocks produced after the exploit window. Pirate Chain stated that no compromise of notary keys or zk-SNARKs cryptography had been detected.
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