Trader allegedly saw over 5,000x gains after Ankr protocol hack

Share your love

When the BNB Chain-based protocol Ankr was exploited and a hacker dumped Ankr Reward Bearing Staked BNB (aBNBc) tokens, a trader took advantage of the price discrepancies and turned $2,879 into $15.5 million.

As previously reported by Cointelegraph, security firm Beosin suggested that the multimillion-dollar exploit may have come from vulnerabilities in the smart contract code and compromised private keys due to a technical upgrade. After the hacker minted and dumped 20 trillion aBNBc tokens, the price of aBNBc significantly dropped.

Read Also   Protests continue in Iran despite repression, with oil strike
Share your love

Leave a Reply

Your email address will not be published. Required fields are marked *