BNB

Ankr Conducts Airdrops to Compensate Holders for $15M Hack

by BSCN

December 13, 2022

With support from the industry, Ankr Protocol is climbing back from the Dec. 1 $15 million hack. Check your wallet for an $ankrBNB airdrop!

Ankr Continues Recovery From Dec. 1 Exploit

The healing process has begun, following the $15 million exploit of Ankr Protocol.

On Dec. 12, the Web3 infrastructure project announced it had completed two airdrops of ankrBNB and BNB tokens to users of several platforms and Decentralized Exchanges (DEXes).

Today we completed 2 airdrops.

1st - ankrBNB airdrop to @DotDotDotFi, @izumi_Finance, & @KalmyAPP

2nd - BNB airdrop to @PancakeSwap, @Ellipsisfi, @ape_swap, @izumi_Finance, @acryptosdao & protocols that built on top of these DEXes.

ankrBNB transferability has been unlocked.
— Ankr (@ankr) December 12, 2022

On Dec. 9, Ankr announced ankrBNB airdrop plans for users of other protocols as well.

Today we will be airdropping ankrBNB to users that held aBNBc or aBNBb via smart contracts.
— Ankr (@ankr) December 9, 2022

The hacker exploited an unlimited mint bug in the aBNBc code, managing to use the ill-gotten aBNBc to borrow 16 million $HAY that were sold for $15.5 million BUSD on 1inch.

Ankr and HAY-maker Helio Protocol have been working together to recover from the attack, with Helio covering the $15 million in bad debt and Ankr paying it back over time by purchasing $HAY.

According to DefiLlama, the Total Value Locked (TVL) on Ankr has rebounded to surpass $170 million, putting it back on par with pre-hack levels, after which TVL plummeted to below $71 million as staking pools were locked.

What is Ankr Protocol:

Ankr is a decentralized Web3 infrastructure for a better Web3 world. The protocol provides the most powerful multi-chain toolkit to access blockchain infrastructure, earn yields, and integrate DeFi solutions.

Where to find Ankr Protocol:

Website | Twitter | Telegram

What is Helio Protocol:

Helio Protocol is a decentralized over-collateralized lending and liquid staking platform on BNB chain. HAY is the protocol’s native destablecoin over-collateralized by BNB and is redeemable for US $1 worth of BNB. Its use cases include borrowing HAY at a collateral ratio ~152% (~66% LTV) by depositing BNB as collateral on the protocol, liquidity mining on LP DEXes, a means of payment to transfer value for goods & services.