Coinspeaker
Hacker Exploits Ankr for Over $5 Million
DeFi protocol, Ankr, has reported a breach by a hacker that resulted in an unlimited minting of its token aBNBc. After minting six quadrillions of the token, the attacker exchanged 20 trillion aBNBc for BNB.
On-chain analysis firm Lookonchain notes that the attacker then used a combination of Uniswap, Tornado Cash and several bridges to swap the BNB and get $5 million USDC.
How Was Ankr Breached?
According to a blockchain security firm Beosin, the hacker exploited vulnerabilities in the smart contract code and compromised private keys following the most recent Ankr upgrade. Using this approach, the attacker minted tokens without any form of verification.
PeckShield was the first to discover the attack. Within an hour, Ankr also confirmed the attack and announced it would collaborate with exchanges to halt transactions with the token.
The DeFi protocol assured all its users that other assets on Ankr Staking remain safe while the rest
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