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Binance Coin (BNB)BlockchainCrypto HacksCryptocurrencyDeFi

Unknown Hacker Makes Away With $5 million From Ankr Protocol

In a Tweet released by the popular DeFi Protocol Ankr, the protocol made it public that it had just suffered a cyber attack wherein the hacker having minted a thousand trillion of the reward-bearing token for BNB staked on the protocol (aBNBc) made away with about 20 trillion which he later converted to BNB and later 5 million USDC.

The manipulation was initially noticed by the popular crypto security firm, Peckshield who brought it to the attention of the recipient and since then, steps have been taken to contain the aftermath effects of the hack. Statistics show that aBNBc no longer has any value and Ankr has assured its customers that it is on top of the situation.

Yet Another Cyber Hack

Cyber hacks are a pretty common occurrence in the crypto space so much that many community members are notorious for saying that the easiest way to get rich in the crypto space is through hacking or manipulation.

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The latest victim of a hack is the popular DeFi Protocol, Ankr. In the early hours of today, December 2, 2022, the BNB chain based protocol announced that it has suffered an attack from an unknown hacker.

According to the memo released, the statistics point to the fact that the hacker had taken advantage of a weakness in the code of the DeFi Protocol that allowed its users to mine tokens unlimitedly.

It was the famous blockchain security company, PeckShield Inc that had noticed the anomaly and notified the protocol and since then the protocol has taken fast and efficient steps to temporarily put a stop to trading across several DeFi exchanges.

According to Peckshield, the hacker was able to make away with 20 trillion Ankr (aBNBc) which he exchanged to BNB and subsequent to 5 million USDC after being pretty careful enough to cover his trail.

Ankr has since assured its customers that it is on top of the game and that the situation will soon be back to normalcy. In addition to that, the protocol promised compensation for its users that were affected.

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Binance Has Paused Withdrawals

The largest crypto exchange, Binance has announced that in light of the Ankr and the Hay development, it has paused withdrawals on its exchange.

In addition to that, the chief executive officer of the exchange Changpeng Zhao stated that the exchange had also frozen about $3 million of the funds that was transferred to the exchange by the hackers.

Binance has since been applauded for its actions and watching out for smaller Firms in the crypto industry. produces top quality content exposure for cryptocurrency and blockchain companies and startups. We have provided brand exposure for thousands of companies to date and you can be one of them too! All of our clients appreciate our value / pricing ratio. Contact us if you have any questions: Cryptocurrencies and Digital tokens are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by our authors (namely Crypto Cable , Sponsored Articles and Press Release content) and the views expressed in these types of posts do not reflect the views of this website. Tokenhell is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. Read full terms and conditions / disclaimer.

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Jimmy Kelly

Jimmy is one of the news journalists for Tokenhell. He is a big crypto enthusiast and bought his first crypto token way back in 2015! Jimmy publishes updates about crypto tokens, events, price analysis and regulation among many other subjects.

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