Ankr attack follow-up: Vulnerabilities fixed, initial recovery fund of $15 million deployed
Ankr detected a hacker attack a week ago, causing its liquid betting Token aBNBc to be over-minted and quickly exchanged for other tokens on the decentralized trading platform. After the attack, the Ankr team patched the vulnerability within hours and deployed an initial recovery fund of $15 million to compensate liquidity providers, lenders, and DeFi protocol users affected by the aBNBc vulnerability.
Overview of measures
After announcing the recovery strategy on its blog and official social media channels, Ankr has taken several steps and fully compensated users for losses incurred due to the bug.
The compensation plan is carried out in several stages, taking a snapshot of the user addresses holding aBNBc and aBNBb at 08:43:18 on December 2, 2022, Beijing time (block height: 23545403 ) and taking swift action to repay all legal and Affected aBNBc and aBNBb holders.
So far, Ankr has airdropped ankrBNB and BNB to wallet addresses holding aBNBc and aBNBb through smart contracts and liquidity pools. It is understood that the team is working closely with multiple DeFi protocols to ensure the safety and best interests of their communities.
Restabilized HAY price
On December 8, Ankr purchased 6,843,323 of the 17,747,582 HAY accumulated bad debts on the decentralized trading platform, successfully stabilizing the price of HAY and pushing HAY/BUSD to $0.98.
On December 13th, Ankr destroyed 6,000,000 HAY, which was the first destruction of Helio's bad debt destruction address. Immediately after the incident, the Helio team stated that it would repurchase excess HAY and send it to the destruction address. Before the incident, the total locked value of Helio Protocol was about 90 million US dollars, and Helio had repurchased 3 million US dollars worth of HAY bad debts in the open market.
Airdrop ankrBNB to affected DeFi users
On December 9th, Ankr airdropped ankrBNB to the wallet addresses holding aBNBc and aBNBb at the time of the snapshot through the smart contracts of multiple DeFi protocols. Airdrop protocols include:
Ellipsis Finance
PancakeSwap
Beefy Finance
ApeSwap
ACryptoS
Wombat
Wombex
Magpie
Quoll
Airdrop BNB to affected LPs
On December 12, Ankr airdropped BNB to wallet addresses holding BNB through the aBNBc or aBNBb liquidity pool. The address is:
ACryptoS ASCI Farm: 18.57922911707609861 BNB
ACryptoS LP: 0.312655746961921 BNB
ApeSwap LP: 192.73227886323606338 BNB
Ellipsis LP Beefy Vault: 829.820502618376604417 BNB
Ellipsis LP DotDot Farm: 332.017235831474294796 BNB
Ellipsis LP Farm: 17.327942433773631424 BNB
Ellipsis LP: 9.987203105242974679 BNB
Kalmy vault: 52.996829992 BNB
Izumi LP: 509.783825632276009070 BNB
PancakeSwap LP Beefy Vault: 697.936888689457446913 BNB
PancakeSwap Farm: 6, 225.408642285559266733 BNB
Airdrop ankrBNB to the lost address
Ankr airdropped ankrBNB to the snapshot's lost wallet address holding aBNBc and aBNBb through the smart contract of the following protocol:
Izumi
DotDot Finance
Kalmy
Unlock ankrBNB transfer
After the transaction of aBNBc and aBNBb is stopped and the migration to the new ankrBNB is completed, the transfer of ankrBNB for the new airdrop will be unlocked.
Compensation Wombat stkBNB LP
Ankr and pStake have reached a bilateral agreement to airdrop 2,654.352 ankrBNB and 681.051 stkBNB, which will partially compensate for the losses of stkBNB liquidity providers on Wombat. The nature of the decentralized exchange's mixed liquidity pools makes it difficult to predict user losses. Currently, Ankr and Wombat's management team have reached an agreement on the full compensation decision.
100% coverage of Wombat BNB LP
Ankr will offer 100% BNB Wombat LP, estimated at ** 14,407.155 BNB (before Christmas at the latest).
conclusion
It is understood that the Ankr team is working 24/7 and will further evaluate individual cases that were not initially considered on a case-by-case basis in order to maximize compensation for losses suffered by users as a result of the attack. The main criterion is to protect non-malicious users during or after an attack. Malicious arbitrageurs exploiting the aBNBc vulnerability will not be included in the recovery plan.
