Coin Gabbar Token

<h2 id="header-0">The storm in crypto markets is only getting darker with further downfalls in the industry, creating more chaos. Ankr, a decentralized liquidity protocol has asked its users to stop all kinds of trading of its aBNB tokens.</h2>The reason given for this decision was an exploit in their BNB staking reward token that has allowed the exploiter to mine over 20 trillion aBNB.All of the minted aBNB tokens were dumped in the market and were swapped by those who did not know about the exploit. The exploiter has been able to convert aBNBs worth $5 million USD on <a href="https://www.coingabbar.com/en/crypto-blogs-details/is-pancake-swap-a-crypto-currency-or-just-a-platform" rel="noopener noreferrer nofollow">PancakeSwap</a>. Ankr made an announcement regarding the exploit on Twitter and informed its users that they are working with global exchanges to halt trading. However, as per their tweets, none of the underlying staking funds of Ankr were compromised with near to no effect on its infrastructure services.The exploiter was able to exchange the implementation smart contract with a vulnerable contract address. This is not possible without having access to the private keys and a compromised private key is supposedly the reason behind this exploit. Even though the BNB smart chain has restricted the exploiter, the damage has been done.Ankr has informed its users that it would be working towards compensating the affected users with the max damage being not more than $5 million USD. Ankr would be purchasing 5 billion worth of BNB tokens to compensate for the losses for the <a href="https://www.coingabbar.com/en/crypto-blogs-details/what-are-liquidity-pools-and-how-to-use-them" rel="noopener noreferrer nofollow">liquidity pools</a> that had to suffer the losses because of the exploits. Ankr also assured its users that it is working towards mitigating the situation and not letting the same scenarios come again.Events such as these cause significant damage not only to the brands but also to the industry as a whole. Amidst this crypto winter, unfortunate exploits such as this can further deepen the grievances of crypto investors.Also, Read - <a href="https://www.coingabbar.com/en/crypto-currency-news/apple-blocks-coinbase-wallet-release-on-ios" rel="noopener noreferrer nofollow">Apple Blocks Coinbase Wallet Release on iOS</a>

Do Not Trade on DEX! Ankr Confirmed Exploits in aBNB Tokens

Table of Contents

Coingabbar

Other articles published on Dec 6, 2022

BitMEX Became First Exchange to Launch Its Proof-of-Liabilities

3AC Founders Seem Interested in Mending Their Reputation than Asset Recovery

Lens Protocol Overview

Goldman Sachs Plans to Buy or Invest in Crypto Firms after FTX Fiasco

The Growing Popularity of Synthetics

Buterin Posts Article About Ethereum and Blockchain Application

Join our free newsletter for daily crypto updates!