Decentralized Web3 infrastructure provider Ankr has A hacking attack aimed at The perpetrators who attacked the platform were able to create and steal large amounts of tokens with their multi-million dollar exploits.
Defi Protocol Ankr Hits Unlimited Mint Bug Exploit
Ankr, Binance’s Decentralized Finance (defi) Protocol Based on BNB Chain was exploited by hackers with apparently unlimited mint bugs. An onchain analyst broke the news on social media and his Ankr confirmed the attack, which occurred on December 1st.
On Friday, Web3 Infrastructure his provider announced on Twitter that he had admitted that his aBNB token had been misused and was working with exchanges to halt trading. In a follow-up tweet, he claimed that all underlying assets of Ankr Staking were secure and infrastructure services were unaffected.
Our aBNB token has been exploited, and we are currently working with exchanges to immediately halt trading.
— Ankr (@ankr) December 2, 2022
An initial report by blockchain security firm Peckshield revealed that an unknown attacker was able to create and dispose of approximately 10 trillion of his aBNB. It also turned out that some of the stolen funds had been transferred to his Tornado Cash mixer. Some were bridged to Ethereum via Celer and Debridgegate.
According to on-chain analytics firm Lookonchain, the abuser created 20 trillion tokens and dumped them on Pancakeswap, earning him at least $5 million in stablecoin USDC. The price of Ankr rewarded staking BNB (aBNBc) plummeted from just over $300 to just over $1.50 at the time of writing.
Peckshield explained that smart his contract for aBNBc token had an unlimited mint bug that hackers exploited. Another report suggested that the attackers had successfully accessed his Ankr deploy Yerkie.
Binance freezes $3 million worth of transferred funds
BNB Chain aware of attack, blacklists abusers I have confirmed that I have registered. Binance founder and CEO Changpeng Zhao tweeted that a developer’s private key was hacked and hackers used it to update his smart contract. The exchange has frozen approximately $3 million in funds that have been transferred to the platform.
Possible hacks on Ankr and Hay. Initial analysis is developer private key was hacked, and the hacker updated the smart contract to a more malicious one. Binance paused withdrawals a few hrs ago. Also froze about $3m that hackers move to our CEX.
— CZ 🔶 Binance (@cz_binance) December 2, 2022
On the other hand, the BNB chain-based death table coin hay that CZ mentioned in a tweet has lost its $1 peg. 49} he was verified by the Helio Protocol team. The token is currently trading at just over $0.65.
This attack comes in a year of numerous security exploits targeting DeFi and crypto platforms. Blockchain forensics firm Chainalysis puts him at $3 billion in losses in 2022. In early October, theBNB chain was temporarily suspended after a hack that cost nearly $600 million.
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