Coin Metrics researchers found a discrepancy of $ 84 million in Ripple reporting and XRP

According to analysts at Coin Metrics, in the course of studying the previous quarterly reports of Californian company Ripple, they revealed significant discrepancies between the figures stated there and the data of the public XRP blockchain.

There are several discrepancies found in the XRP ledger.

Read more about them here (summary below): https://t.co/j4EyYFZEMy

– CoinMetrics.io (@coinmetrics) May 16, 2019

In particular, in the reports for the third quarter of 2018 and the first quarter of 2019, Ripple underestimated the volume of XRP issued from the e-escrow wallet. The total discrepancy, according to analysts, was about 200 million XRP or $ 84 million at the rate at the time of publication of the report.

It also says that the escrow queue »XRP works differently than Ripple claims. According to the company, unused funds are sent back to the store, re-released in the first month without existing security.

However, as the XRP blockchain data shows, in reality Ripple distributes tokens, maintaining a monthly provision of 1 billion XRP.

Also, analysts at Coin Metrics have found that Ripple launches additional XRPs from its escrow wallets that are not part of the process described above. According to their data, as of today, 55 million XRPs have been issued this way, most of which was then sent to the Bitstamp exchange.

Recall that on May 1, 1 billion XRP tokens were unfrozen on the Ripple escrow account. They are expected to be used for various changes in the Ripple ecosystem, as well as for direct sales.

In April, Ripple company published a financial report for the first quarter of 2019, according to which sales of XRP tokens increased by 31% compared with the previous quarter, reaching $ 169.42 million.

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