BNB

Wombat Exchange to Open BNB Pool Withdrawals After ANKR Exploit

by BSCN

January 11, 2023

On Jan. 16, Wombat Exchange users can withdraw funds deposited in the BNB Pool that was paused after the Dec. 1 Ankr Protocol hack.

Withdrawals to Open Jan. 16 on Wombat Exchange

Wombat Exchange has good news for users whose assets have been stuck in limbo since Ankr Protocol suffered a $15 million hack more than a month ago.

On Jan. 16, the Decentralized Exchange (DEX) will open a withdrawal page for its BNB Pool.

Our BNB Pool's withdrawal page is scheduled to launch on 16th Jan 3PM UTC.

For those who need more details, please refer to the quoted thread. Our thread here explains how you can withdraw your assets and what the possible outcomes are.

Read on 🧵 https://t.co/T1JcKcTnFw
— Wombat Exchange (@WombatExchange) January 11, 2023

The Ankr hack affected Helio Protocol’s HAY destablecoin, which in turn impacted various BNB Chain protocols, including Wombat Exchange.

Since then, the projects have been working together to recover from the hack and compensate users.

What is Wombat Exchange:

Wombat Exchange is a multi-chain stableswap focused on fueling DeFi growth and promoting its product’s scalability, accessibility, and efficiency in the multi-chain space. The protocol allows users to swap stablecoins at minimal slippage and stake at maximum yield.

Where to find Wombat Exchange:

Website | Twitter | Discord | Medium | Telegram

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 the 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.