Hacker exploits Ankr to a mint huge amount of BNB token

A hacker successfully minted $4 billion worth of aBNB tokens in the Ankr protocol. The backend team confirmed the attack on the platform.

Ankr’s blockchain protocols help to get efficient international public DLT network access. Ankr’s platform uses the core blockchain technology for the distribution of cloud computing and offers a computing framework under a fully decentralised environment and also provides a platform for business applications. In short, Ankr aims to push the adoption of different digital financial services via the use of Web3 & blockchain technology.

On 2 December, a blockchain technology leader informed his followers that Ankr faced an attack and the hacker managed to mint $4 billion worth of wrapped BNB tokens.

However hackers successfully minted huge amounts of tokenized BNB coin but probably failed to make money because liquidity from the pool withdrew just after the attack, as per available information by the experts.

On the same day, the Ankr team responded on this matter and confirmed that the platform was exploited but at the same time confirmed that all other services are unaffected.
For now, the team halted withdrawal but didn’t reveal the loss with this hacking incident.

Ankr price action

The price of ANKR, a native token of the Ankr ecosystem, is $0.02132 and this price is 6% down over the last 24 hours’ trade price value.

A sudden downfall in the price of this coin can be seen in the price graph, which is part of the usual market price downfall but here we may expect more downfall with this coin because of this hack attack.

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