Ankr Exploited, Trillions in Wrapped BNB Minted in Ongoing Hack

source: unpslash

Ankr, a multi-chain Web3 infrastructure and Ethereum/BNB Chain-based decentralized finance (DeFi) protocol, has been compromised in an ongoing attack.

Ankr’s BNB Reward Bearing Certificate token (aBNBc) has token exploited by an unknown attacker.

The reasons for the exploit are still under investigation. However, it has been speculated that Ankr suffered a governance key compromise.

Trillions in Wrapped BNB

The attacker managed to mint over 50 Trillion $aBNBc (the equivalent of BNB on Ankr) and immediately dumped them on PancakeSwap, wiping out all liquidity from the DEX pool and making around $5 million in the process.

Funds are currently being sent to crypto mixer Tornado Cash.

Exploiter address: 0xf3a465c9fa6663ff50794c698f600faa4b05c777

Underlying assets on Ankr are safe

“All underlying assets on Ankr Staking are safe at this time, and all infrastructure services are unaffected,” said Ankr in a follow-up tweet.

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Liam Peak
Liam Peak
Liam is the founder and head editor at Coinmash. Previously working as a blockchain developer, he enjoys sharing insights on DeFi, NFTs, and Blockchain tech. Occasionally he'll share a thought or two and cover some breaking news surrounding Web3.