The decentralized-finance protocol declared that it is already coordinating with exchanges to cease trade of aBNBc right away.
Ankr, a decentralized finance (DeFi) protocol built on the BNB Chain, has acknowledged that on December 1 it was the target of a multi-million dollar exploit.
A reward-bearing token for BNB staked on the protocol, called Ankr Reward Bearing Staked BNB (aBNBc), is said to have been minted by the attacker in the amount of 20 trillion. The exploiter has now swapped and obscured the funds using services like Uniswap, Tornado Cash, and numerous bridges, and has been successful in obtaining about 5 million USD Coin.
The exploit is thought to have been caused by either a flaw in the smart contract for the protocol or a breach of private keys.
aBNB coin has been abused, and Ankr is presently working with exchanges to promptly suspend trade of the hacked token, according to a brief statement the company posted on its Twitter page.
As new information becomes available, it will be posted to this developing story.