DeFi Protocol Ankr Hit With $5 Million Exploit

DeFi Protocol Ankr Hit With $5 Million Exploit

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Ankr, a BNB chain-based DeFi protocol, is the latest victim of a multimillion-dollar attack by cyberpunks on Friday, December 2.

The attack was confirmed by Ankr on Twitter, according to Ankr, aBNB token is under attack and it is working with crypto exchanges to immediately pause the trading of the affected token.

The hack was first discovered by on-chain security analyst PeckShield at approximately 12:35 am UTC on Friday.

The hacker was purportedly able to mint 20 trillion Ankr Reward Bearing Staked BNB (aBNBc), a reward-bearing token for BNB staked on the protocol.

In a tweet by on-chain analysis on Twitter, the thief has since used services such as Uniswap, Tornado Cash, and various bridges to swap and obfuscate the funds to gain around $5 million worth of Circle’s USDC.

“All underlying assets on Ankr Staking are safe at this time, and all infrastructure services are unaffected,” the tweet added.

Furthermore, crypto exchange Binance confirmed the attack in a tweet on Friday, December 2, Binance said in the post that its team is currently engaging with relevant parties to investigate the further.

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