Pigeoncoin was the recent altcoin to see what happens, when you don’t update your source code, after using a clone of bitcoin, in a recent hack, an unknown exploiter, showed off a bug that allowed non-updated code, to be hijacked and used to instamine / print the cryptocurrency to the tune of 235 million altcoins, a total worth of $15,000 via coinmarketcap.
Update like the rest, or get hijacked by the best
The Severe inflation bug, is known and has already been patched by the big guys, bitcoin, litecoin, etc, however, many who cloned the source code for their own altcoin, have not, allowing for a hidden piggy bank awaiting and a instant collapse of the price following the sell off.
One Fourth Of all Pigeoncoin was the hackers booty
With a total supply cap of 970 million altcoins, Pigeoncoin’s recent loss was 1/4th the total supply, leaving uncertain times ahead for the community. While their isn’t too much that can be done, many are still awaiting to see when and how the exploiter sells the haul. Since the issue, Pigeoncoin has updated their source code via patch, so it’s not likely to be a problem going forward.