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What is Happening in the Defi Protocol Ankr?

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What is happening in the Defi Protocol Ankr? Unpublished Web3 resource manager Ankr has been the victim of a hacking attack targeting the Defi space. The attackers who are miners on the platform are able to mint and complete the amount of tokens and millions of dollars to exploit.

Defi Protocol Ankr hit Mint with unlimited bugs exploiting millions

Ankr, a cryptocurrency protocol (defi) based on Binance’s BNB chain, was apparently exploited by an investor with an unlimited key bug. The channel’s analysts broke the news on social media that the attack took place on December 21. 1, approved by Ankr.

On Friday, infrastructure provider Web3 admitted on Twitter that its aBNB token had been leaked and said it was working on a change to stop the trading. In a follow-up tweet, he emphasized that all assets on Ankr Staking are safe and the infrastructure services are not affected.

An early report from blockchain security firm Peckshield revealed that an unknown attacker was able to mine and wipe out about 10 trillion aBNB. He also found that some of the stolen money had been transferred to the Tornado Cash machine.

Celer and Debridgegate have partially merged with Ethereum. On-chain research firm Lookonchain said the exploiter mined 20 trillion tokens and dumped them on Pancakeswap, saving at least $5 million in USDC stablecoins. The price of Ankr staked BNB (aBNBc) has fallen from over $300 to over $1.50, at the time of writing. Peckshield explained that the smart contract for the aBNBc token has an unlimited mint bug that was exploited by a hacker. Another report suggested that the attacker managed to obtain Ankr’s migration key.

Binance stopped $3 million in transfer fees

BNB Chain is confident that it is aware of the attack and lists the exploiter. Binance founder and CEO Changpeng Zhao tweeted that the developer’s private key was compromised and a hacker used it to upgrade the smart contract. The exchange stopped about $3 million in money transferred on its platform.

Meanwhile, the BNB chain-based destabilcoin hay, which CZ refers to in his tweet, has lost its $1 peg, following an apparent exploit sponsored by the Helio Protocol team. The token is currently trading at over $0.65.

The attack comes in a year of many security challenges on crypto platforms. According to blockchain forensics company Chainalysis, the resulting losses in 2022 will reach $3 billion. In early October, BNB Chain was temporarily put on hiatus following a hack that cost nearly $600 million.

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