Ankr is a web3 infrastructure provider for the BNB Chain ecosystem. It is a cloud computing platform that distributes idle computing power. Its native ANKR token can be mined by contributing computing power to the network. It also offers a variety of staking and profiting options on BEP-20 tokens.
The hack was first discovered by on-chain security firms Nansen and Peckshield, said that the smart contract for the aBNBc token had an unlimited mint bug. It also reported that the Ankr exploiter had transferred 900 BNB worth around $253,000 into Tornado Cash. It had also bridged USDC and ETH to Ethereum, adding that the exploiter currently holds 3,000 ETH (around $3.8 million) and 500,000 USDC. The hacker now holds 20 trillion aBNBc, becoming the 13th largest holder of the token.
Ankr confirmed the hack and is working with exchanges to halt trading. The unlimited mint bug caused the price of aBNBc to drop 99.5% from $303.89 to $1.53 in just a few hours, according to data from CoinMarketCap. BNB suffered the same fate when it fell to $286.6 and is trading around $288.1.
According to a tweet by CEO Binance CZ, Ankr’s private key was hacked, and the hacker updated the smart contract to a more malicious one. Binance paused withdrawals a few hours ago, also froze about $3m that hackers moved to CEX. CEO Binance also announced to freeze the address that earned 15.5M $BUSD from the hacks on Ankr and transferred to Binance.
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