The CEO of Binance announced that the exchange has frozen about $3 million worth of assets obtained by hackers as a result of the Ankr exploit.
The Ankr DeFi protocol was subject to a massive hack, during which the attacker was able to issue 20 trillion aBNBc tokens. The hacker then exchanged part of the funds for 5 million USDC using the Uniswap decentralized exchange, the Tornado Cash mixer, and various inter-network bridges.
Blockchain security research company Beosin wrote
on Twitter that the attack was likely caused by a compromise of the private key because the developer changed the address of the implementation contract before the attack. The attacker then called the mintApprovedTo function, which allowed anyone to mint unlimited tokens.
Binance CEO Changpeng Zhao revealed that the exchange was able to lock up about $3 million in profits from the Ankr hack.
Possible hacks on Ankr and Hay. Initial analysis is developer private key was hacked, and the hacker updated the smart contract to a more malicious one. Binance paused withdrawals a few hours ago. Also freeze about $3m that hackers move to our CEX.
— CZ Binance (@cz_binance) December 2, 2022
Responding in a Twitter thread to user comments that hackers could take possession of assets worth five times the amount blocked, the head of Binance announced his readiness to involve an independent auditor in the verification.
Earlier, the Binance cryptocurrency exchange announced the conclusion of a cooperation agreement with Mazars, which will be the auditor of the new Proof-of-Reserve (PoR) system.
Source: Bits
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