If you have bought Bitgrin coins recently then you have a big reason to worry, because they have accidentally minted billions of Bitgrin coins when the maximum supply to be minted was set at 21 million coins, and therefore it’s quiet possible that you may have received coins which may soon be worthless, because they plan to carry out an hardfork which will make those surplus coins inaccessible for trading purposes.
Furthermore according to Pharazen their lead developer who claims that he has made those coins inaccessible to the public, but refuses to give any proof of this and due to this I’m skeptical of his claims, and hence a friendly warning to all avoid buying Bitgrin coins till they execute the hardfork and give proof that the hardfork actually took place.
“Alert Issued: We have received reports that billions of XBG were minted despite having a max supply of 21M.”
Pharazen said that he already rendered the coins inaccessible by transferring them to an address that he himself cannot access, but admitted that this cannot be proved. While he claimed that mimblewimble-enabled cryptocurrencies cannot be burned, he promised that he plans to implement a hard fork on the network to render the coins inaccessible in a publicly verifiable way.
Source:
https://cointelegraph.com/news/bitgrin-minted-billions-of-tokens-despite-21m-supply-cap-coinmarketcap-warns
