The BNB Chain-based Defi protocol Ankr confirmed it has been hit by a multi-million dollar exploit

Ankr, which provides node infrastructure for Proof-of-Stake blockchains, has been hacked and hackers are “dumping” BNB massively. The Ankr aBNBc contract was attacked, and an additional 10 trillion aBNBc was minted. Ankr Exploiter has transferred 900 BNB into Tornado Cash.

Ankr confirms exploit, asks for immediate trading halt

Previously, BNB Chain launched the liquid staking function through Ankr, and users can earn interest by allocating BNB tokens to the liquid staking agreement and obtaining aBNBc. According to alarms from on-chain ‘police’ Nansen and Peckshield, the Ankr protocol appears to be experiencing a security problem. Someone minted 10 trillion aBNBc (as of press time), causing the price of aBNBc has dropped by 99.5% after exploiting.

aBNBc is Ankr’s staking product and pegged to BNB. Specifically, the hacker transferred 900 BNB (~$253,000) into Tornado Cash, a USDC bridge, and ETH to Ethereum. 1inch is where hackers use to test first with 1 ETH.

The attacker currently holds 3,000 ETH (~$3.8 million), 500,000 USDC, 19,999,999,972,926 aBNBc, and becomes the 13th largest holder of aBNBc. A few minutes ago, the hacker was continuing the second batch of “terrible” mints, and, likely, it has not stopped.

After the attacks, the total supply of aBNBc, according to the smart contract, swelled to 60 decimal places.

On the project side, they immediately notified and is coordinating with exchanges to handle the problem. BNB is suffering the same fate as Ankr, correcting sharply to $286.6 and is trading around 288.1 USD.

Price movement of aBNBc taken from Tradingview on December 2, 2022

15m chart of BNB/USDT pair on Binance exchange at 10:00 AM on December 2, 2022

The node that provides the node infrastructure for the previous Proof-of-Stake blockchains also suffered a DNS attack in July, affecting Polygon and Fantom.

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