Ankr Plans To Reissue aBNBc And Compensate Users

    The Ankr workforce has revealed additional directions on its response to the latest Ankr protocol hack. Ankr plans to reissue Ankr Reward Bearing Staked BNB (aBNBc) tokens and compensate customers affected by the hack. Meanwhile, crypto exchange Binance introduced pausing withdrawals of affected crypto tokens and freezing tokens moved to the change by exploiters.

    Ankr Announces Plan to Reissue aBNBc Tokens

    After instantly notifying the crypto group concerning the hack of its aBNBc tokens, the Ankr workforce began working with exchanges to right away droop buying and selling. Moreover, the workforce confirmed that each one underlying belongings on Ankr Staking are secure and infrastructure providers stay unaffected.

    In the newest set of directions shared by the Ankr workforce, it recommends customers keep away from buying and selling the affected tokens. It requested liquidity suppliers to take away liquidity from decentralized exchanges and maintain the aBNBc tokens.

    Ankr plans to reissue the Ankr Reward Bearing Staked BNB (aBNBc) tokens after assessing the scenario. The workforce has been in touch with the decentralized exchanges and prompt blocking buying and selling.

    “We have been in touch with the DEXes and told them to block trading. We will reissue tokens in the future after we assess the situation. We are currently drafting a plan and we are committed to compensating affected users.”

    Binance Conducts Probe On the Hack

    Binance workforce carried out a probe on the hack of BNB Chain-based DeFi protocol Ankr. Also, Binance CEO Changpeng “CZ” Zhao revealed how a developer’s leaked non-public key led the hacker to alter the smart contract to a weak contract handle.

    In response to the Ankr hack, Binance CEO Changpeng “CZ” Zhao introduced that the crypto change has already stopped withdrawals of affected crypto tokens. In addition, he revealed that Binance has additionally frozen nearly $3 million value of crypto belongings that hackers moved to the crypto change.

    “The original smart contract seems to be ok, but once a hacker gets hold of the dev private key, they updated the smart contract.”‘

    Also Read: How Exploiters Made Profit On The Ankr Exploit

    Varinder is a Technical Writer and Editor, Technology Enthusiast, and Analytical Thinker. Fascinated by Disruptive Technologies, he has shared his data about Blockchain, Cryptocurrencies, Artificial Intelligence, and the Internet of Things. He has been related to the blockchain and cryptocurrency trade for a considerable interval and is presently masking all the newest updates and developments within the crypto trade.

    The offered content material might embrace the non-public opinion of the creator and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The creator or the publication doesn’t maintain any duty to your private monetary loss.

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