One of the major projects on the BNB Chain has suffered a huge exploit. The attacker has been able to exploit and steal a tremendous amount of wrapped BNB tokens.
Ankr Suffers an Exploit
A report has revealed that the major BNB Chain project based on the web3 infrastructure, Ankr has suffered a major exploit.
As a result, the platform has ended up losing a tremendous amount of wrapped BNB tokens (aBNBc). According to the market data, the aBNBc tokens exploited and minted by the hacker are worth millions.
The exploit was flagged on December 2
The exploit was reportedly highlighted by a major on-chain analytics provider, Nansen on December 2. The firm reported that the hacker had gotten away with millions of dollars’ worth of aBNBc.
The data shared by Nansen has confirmed that the hacker was able to mint a total of six quadrillion aBNBc tokens. These tokens were minted abruptly causing a major problem for the Ankr protocol.
The analytics firm also mentioned that the hacker wanted to get rid of the exploited tokens as soon as possible. Right after the exploit, the hacker attempted to dump the tokens.
The hacker went for the decentralized exchanges based on the BNB chain. The hacker was also trying to use Tornado Cash in order to mix the tokens and make them untraceable.
After passing the tokens through Tornado Cash, the hacker could have attempted to transact them through the Ethereum network.
However, nothing could be done to stop the process if the tokens made it to the Tornado Cash platform.
Tweet by LookonChain
Another analytics platform shared its observation on the entire matter. The platform confirmed that the hacker was able to successfully exploit a large amount of the tokens.
According to the report shared by an analytics firm, the hacker was able to steal at least $5 million, which he made in profits.
The aBNBc Pools were Drained
With more data and information coming around the hack has revealed that the hackers fully drained the aBNBc pools. These pools were on the ApeSwap and the PancakeSwap protocols.
It was a powerful attack from the hacker as the value of the token fell to a bottom price in a matter of sixty minutes.
Prior to the hack attack, the value of the token was $300 each. By the time the hacker ran away with the tokens, the value of the tokens had fallen to a cent fraction.
The details can be confirmed from CoinMarketCap, a major crypto tracking platform. Even at the time of writing, the value of the token is hitting a bottom figure.
The token has lost the majority of its token due to the exploit carried out by the hacker. The aBNBc token has been gathering a lot of attention ever since its launch.
The token is used for bringing in BNB rewards for the users who stake it. However, the best part of staking the aBNBc tokens is that they are not locked at all.
The users do not have to feel concerned and lock up their liquidity to the staking process.
Announcement by Ankr
Following the exploit, the officials at Ankr issued a statement about their course of action on the matter. They have communicated that they are currently in contact with all possible exchanges asking for their support.
They have asked the exchanges to block the trading of the aBNBc tokens from their platforms. In addition to the above, the platform has claimed that all the tokens in the Ankr Staking system are protected and safe.
Ankr has claimed that at the moment, all the services and the projects on their infrastructures are working without any problems. There is no interruption with their projects and everything is running smoothly.
One of the Ankr community members has claimed that the hack attempt seems like a job from the inside.
The same user has made another claim that the hack took place from the deployment key of the Ankr platform that ended up getting compromised.