SNEAK PEEK
- Ankr has advised liquidity providers to withdraw liquidity from liquidity pools.
- Ankr suggests withdrawal of liquidity offering to minimise speculative trading.
- After the airdrop of new AnkrBNB tokens, aBNBc and aBNBb will be useless.
On 1 December, Ankr addressed on Twitter why they have put the trading of their aBNB cryptocurrency to halt.
We have been getting multiple questions to why trading is halted for our aBNB tokens.
— Ankr (@ankr) December 4, 2022
Reasons and in-depth technical explanation.
A 🧵
The decentralised financial system announced that it has been working with exchanges to immediately stop aBNBc deal. The aBNB coin has been abused, according to Ankr, and they are now working with exchanges to cease trade immediately.
Ankr issued an update, stating that a hacker had hacked a deployer’s private key and stolen $5 million and that the decentralised exchanges (DEXs) had promptly suspended trade of aBNB coins.
The tweet also addresses why AirBnB ceased selling them but kept buying them. To this end, Ankr clarified that there was no longer any BNB available in LPs to sell aBNBb and aBNBc. It was drained out by the exploiter, who had an infinite quantity of aBNBc that he sold on DEXs versus BNB until the liquidity pools were totally dried out.
On December 1, the BNB chain-based decentralised finance (DeFi) system Ankr was struck by a multi-million dollar exploit. On-chain security analyst PeckShield appears to be the first to notice the attempt on December 2 at 12:35 a.m. UTC. Ankr stated on Twitter within an hour of the hack that the aBNB token has been exploited and that it is engaging with markets to quickly suspend trade of the stolen currency.
According to their claims, the attacker was able to generate 20 trillion Ankr Reward Bearing Staked BNB (aBNBc), an incentive token for BNB staked on the platform.
Also, cryptocurrency exchange Binance acknowledged that its staff is working with appropriate parties to further examine the problem and that user funds are not in danger. The explorer’s wallet address has also been banned, according to the BNB Chain Twitter feed.
