Ankr, a web3 infrastructure project on BNB Chain, has suffered a major exploit with an attacker minting and dumping millions worth of its wrapped BNB token, aBNBc. On Dec. 2, Nansen, an on-chain analytics provider, flagged that six quadrillion aBNBc had been abruptly minted. It added that the hacker was racing to offload the tokens onto BNB Chain-based decentralized exchanges, using the network’s deployment of Tornado Cash — a crypto mixing protocol designed to obfuscate the transaction history for digital assets — to move their illicit gains to the Ethereum network. LookonChain, an on-chain analytics firm, tweeted that the hacker made off with at least $5M in profits. The attacker has completely drained the aBNBc pools on PancakeSwap and ApeSwap, crashing the token’s price from $300 to a fraction of a cent over just 60 minutes, according to CoinMarketCap. The aBNBc token is designed to accrue BNB staking rewards without forcing holders to lock up their liquidity. Ankr said it is working with exchanges to halt trading for the aBNBc token. “All underlying assets on Ankr Staking are safe at this time, and all infrastructure services are unaffected,” it added.

Full story : Hacker Makes Off With Millions After Minting Six Quadrillion of Ankr’s BNB Staking Tokens.