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TheBlock 2022-12-04 00:31:38

Rapid Insights: Analyzing Ankr’s Liquid-Staking Protocol Infinite Mint Exploit

Quick Take Rapid Insights provide a deeper analysis of the current crypto landscape in a timely fashion 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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