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Following the recent attack that hit the Ankr exchange, the security team has issued an update on the malicious event.

With an early comment on Friday in response to the theft of at least $5.5 million from BNB Chain liquidity pools and money markets, decentralized Web3 infrastructure provider Ankr attempted to reassure its community. The group verified that none of Ankr's additional products, including as validators, RPC nodes, and AppChain services, were impacted.

Quick Take Rapid Insights provide a deeper analysis of the current crypto landscape in a timely fashion The Ankr protocol's liquid-staking derivative, aBNBc, was exploited on December 1st through what appears to be a private key compromise Aside from a collapse in the price of aBNBc, the Helio protocol was also exploited as a secondary effect, with erroneously minted aBNBc being used to borrow excess amounts of the HAY stablecoin In this report, we analyze the original attacker's movements on-chain and examine the impact of the exploit on other parts of the BNB Chain ecosystem

Ankr protocol has swiftly patched the security vulnerability exploited by hackers earlier this week The DeFi protocol has also assured users that compensation for losses is on the way Decentralized finance (DeFi) protocol Ankr, also popular as the first ‘node-as-a-service' platform, has announced that it has restored security after suffering a hack on Dec 1st.

Ankr has become the latest cryptocurrency-related firm to be hacked. The Web3 infrastructure provider tweeted Thursday (Dec. 1): “Our aBNB token has been exploited, and we are currently working with exchanges to immediately halt trading.

The Ankr network has fallen victim to crypto hackers, who infiltrated the project and minted quadrillions of tokens.

The company stated it would be discontinuing aBNBc and aBNBb tokens 'effective immediately,' and that "new ankrBNB tokens will be minted and airdropped to affected aBNBc and aBNBb users."

Staked Binance Coin on decentralized finance (DeFi) protocol Ankr (aBNBc) has plummeted by over 90% after hackers exploited the token. Blockchain security company PeckShieldAlert initially broke news of the exploit. “Seems like Ankr has been exploited, aBNBc has dropped -50%, tons of aBNBc have minted to https://bscscan.

The hacker exploited a bug in Ankr's aBNBc smart contract which allowed him to mint six quadrillion aBNBc tokens.

A series of linked attacks cost infrastructure provider Ankr and stablecoin issuer Helio Protocol a combined $20 million, according to an BlockSec investigation. Ankr's liquid staking token product was the subject of the first attack, which cost the company more than $5 million.

Ankr users affected by Friday's hacks will be reimbursed. The protocol will also buy 5 million of BNB to pacify liquidity providers.

Bad news for Ankr, Binance is now working to recover the funds

Ankr assesses damage per recent update

Exploiter minted 20 trillion staked BNBs (aBNBc) on Ankr and later exchanged them on platforms like UniSwap and Tornado Cash.

Ankr protocol announced that it will be reissuing aBNBc tokens, promising that it will assess the situation and compensate affected users.

While investigations are still ongoing, the case is rapidly developing. So far, the aBNBc token has lost over 99% of its value.

Decentralized Web3 infrastructure provider Ankr has become the latest victim of a hacking attack targeting the defi space. The perpetrators who hit the platform were able to mint and steal a massive amount of tokens in a multimillion-dollar exploit.

A web3 infrastructure platform Ankr has reported that the approximate damage caused by the ongoing exploit might account for as much as $5 million worth of BNB tokens.

Binance CEO Changpeng Zhao announced that the exchange had paused withdrawals following an exploit on the crypto node project Ankr.

According to an on-chain analysis by security firm BlockSec, Ankr (ANKR/USD) and stablecoin issuer Helio have lost about $20 million in a series of connected attacks. The first attack targeted a liquid staking token product offered by Ankr while the second attack targeted the Helio Protocol.

On December 2nd, at 12:35 GMT, Peckshield flagged an exploit made by an attacker on Ankr protocol. The exploit made way with 20 trillion aBNBc reward tokens from the protocol.

Decentralized finance (DeFi) infrastructure provider Ankr has been exploited to the tune of over $5 million due to a bug that allowed for unlimited minting of its token.

Binance CEO Changpeng Zhao revealed on December 2 that the exchange froze around $3 million of the funds from Ankr's hack. The post Binance freezes $3M from Ankr exploit appeared first on CryptoSlate.

A series of connected attacks ended up costing infrastructure provider Ankr and stablecoin issuer Helio Protocol a total of $20 million. The post Attacker pockets $20 million in exploits on Ankr and Helio appeared first on The Block.