Ankr Can Take Bad Debt Due To Hacker Attack

After being hacked by a hacker and minting 10 trillion aBNBc, the hacker also successfully obtained about $5 million in assets through the mixer. The Ankr protocol is currently facing a debt caused by hackers.

Today, Ankr updated the status of the protocol after the hack and said address 0xf3a used an infinite minting error in Ankr’s contract code to mint a total of 60 trillion aBNBc across 6 different transactions. The attacker was able to swap some for the USDC stablecoin and start moving them out of the Binance Smart Chain and onto Ethereum before the transactions were flagged.

The Ankr team has confirmed that the loss incurred is in the range of $5 million BNB. No liquidity staking tokens or other products of the protocol are affected. Likewise, their validator services, RPC API and AppChain continue to work without any interruption. The group also said it will use the reserve to compensate liquidity providers for the aBNBc pool.

However, as shared by Helio Protocol, an ecological stablecoin project of BSC, tweeted that they have negotiated with the protocol and they may incur bad debts.
created by attackers using a vulnerability of the Helio Protocol.

Ankr will buy excess OR minted from aBNBc and burn them to restore the OR peg. The Helio Protocol will replace the collateral used to mint HAY and will use the newly issued ankrBNB Token to replace the existing aBNBc token.

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