Ankr states that no one should trade aBNBc. Only LPs ‘caught off guard” will be compensated
The company stated that it would discontinue aBNBc tokens and aBNBb tokens “effectively immediately” and that “new ankrBNB tokens will be minted, and airdropped for affected aBNBc users.” Breaking news Buy this piece of crypto history The group also stated that it is evaluating aBNBc collateral pool, such as Midas or Helio. Ankr plans to purchase $5 million worth BNB from the group, which it will use as compensation for liquidity providers affected by this exploit. “Update on our aBNB Token Exploit:We are grateful to our community of DEXs, exchanges, and protocols that all helped us end the exploit quickly.We will use reserves to compensate liquidity providers for the aBNBc pools.https://t.co/B2yNWBAQdX– Ankr (@ankr) December 2, 2022
The hackers were briefly explained by the developers. An attacker gained access to the “deployer key” of the team, which was the key used to deploy smart contracts. The contracts can be upgraded, so the attacker was able to deploy a completely new version of one contract, giving them the ability to create unlimited amounts of coins “without authorization checks.” The team claimed that the attacker had minted 60 trillion aBNBb tokens out of thin air after gaining this power. These tokens were then exchanged for USDC and moved off of the network via bridges to Ethereum. In response, the team transferred ownership to a new, uncompromised account. This protected the contracts and prevented the attacker from doing more damage. Ankr’s validators and RPC API were not compromised. Therefore, Ankr notified all DEXs not to allow trading of aBNBc and aBNBb. It is currently going through the process to identify liquidity providers for these tokens such as those that supply the token to Helios or Midas. The blog post stated that the current versions aBNBc/aBNBb are no longer redeemable for BNB. A snapshot of the balances users had before the exploit will be taken. New versions of these tokens are being issued and token holders will receive the new coins based upon the balances they had prior to the exploit. The team advised users not to trade aBNBc and aBNBb. However, Ankr stated that some users may have engaged in arbitrages to make money from the exploit. These arbitrages will not be rewarded as the snapshot will only be taken at 12:43:18 UTC on Dec 02, 2022. The developers advised that liquidity providers remove their aBNBc or aBNBb tokens and instead keep them in their wallets.