Analyzing Ankr's Liquid-Staking Protocol Infinite Mint Exploit

December 3, 2022, 7:31PM EST

• 8 min read

Quick Take

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The Ankr protocol’s liquid-staking derivative, aBNBc, was exploited on December 1st through what appears to be a private key compromise
Aside from a collapse in the price of aBNBc, the Helio protocol was also exploited as a secondary effect, with erroneously minted aBNBc being used to borrow excess amounts of the HAY stablecoin
In this report, we analyze the original attacker’s movements on-chain and examine the impact of the exploit on other parts of the BNB Chain ecosystem

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Source: https://www.theblockresearch.com/rapid-insights-analyzing-ankrs-liquid-staking-protocol-infinite-mint-exploit-191899?utm_source=rss&utm_medium=rss