Cointime

  • BTC $16932.80 -0.02 %
  • ETH $1273.25 -0.08 %
  • BCH $109.70 -0.09 %
  • SOL $13.47 0.00 %
  • XRP $0.39 -0.08 %
  • BNB $288.60 -0.03 %

Markets

Hacker Attacks BNB Chain Deployed Project Ankr, Exploits Crypto Assets Worth US $5 Million

According to Fairyproof’s security detection system, on December 2, Ankr, a dApp deployed on the BNB chain was attacked.

The attacker (0xf3a465C9fA6663fF50794C698F600Faa4b05c777) very likely compromised the private key of Ankr Deployer(0x2Ffc59d32A524611Bb891cab759112A51f9e33C0), and then upgraded “aBNBc” with a malicious implementation contract (0xd99955B615EF66F9Ee1430B02538a2eA52b14Ce4). The hacker proceeded to start a mint transaction with the hash value of 0xf3a465C9fA6663fF50794C698F600Faa4b05c777 which minted additionally 10,000,000,000,000 aBNBc tokens.

Ankr Deployer then transferred 1.125 BNBs to the hacker. The hacker then exchanged all the aBNBcs to other assets, among which 200 BNBs were sent to Tornado Cash and others were migrated to other blockchains as follows:

- crypto assets worth around US $4.28 million sent to Ethereum

- crypto assets worth around US $760,000 sent to Polygon

An hour later, Ankr Deployer transferred the owner rights of several Ankr contracts to new addresses.

The hacker exploited US $5 million in this incident.

Comments 0

Alibaba, PlatON, and HashKey to Co-build Web3 Developer Platform

Alibaba Group’s digital technology and backbone, Alibaba Cloud, made an announcement to co-develop the technology and infrastructure platform for Web3 developers. In this venture, Alibaba Cloud is backed by PlatON and HashKey Group. The new venture aims to support Web3 developers with inclusive back-end technology infrastructures, such as multi-chain infrastructure, cloud platforms, and decentralized identity services. The exceptional tools will relieve developers from back-end maintenance tasks and allow them to focus on developing their Web3 applications in the metaverse, social media, and gaming. (cryptonewsz)

Comments 0

Proof-of-Reserves Are at 'Best Incomplete, at Worst Misleading and Deceptive' Says Crypto Analyst Martin Hiesboeck

While many crypto exchanges have seemingly embraced the use of proof-of-reserves (PoR) to showcase their transparency and reassure nervous users, crypto analyst Martin Hiesboeck insists such so-called proofs are susceptible to manipulation or misrepresentation. He added that PoRs alone are not a suitable method of verifying an exchange’s reserves because they do not “account for liabilities and off-chain assets at all.” (Bitcoin.com)

Comments 0

Sam Bankman-Fried Says not Aware of any Improper Use of Funds in FTX Downfall

Sam Bankman-Fried, the founder of failed cryptocurrency exchange FTX, told ABC News that he “did not know that there [was] any improper use of customer funds” at his company, amid speculation customer deposits were used for trading by Alameda Research, FTX’s brokerage arm. (forkast)

Comments 0

NYDFS Proposes Regulation Allowing It to Charge Crypto Companies in New York for Supervision Costs

The New York Department of Financial Services (NYDFS) published a proposed regulation on Thursday that lays out how the state agency would assess New York-regulated crypto companies for costs associated with their supervision. The proposed regulation comes eight months after the New York State Senate first authorized NYDFS to charge the crypto companies it oversees, bringing its oversight mandate for crypto in line with how the regulator oversees more traditional banks and financial services firms. (Coindesk)

Comments 0

FCA-Regulated Crypto Custodian Digivault Is Up for Sale Following Eqonex Liquidation: Source

Digivault, a cryptocurrency custodian that was one of the first to secure a license from the U.K. Financial Conduct Authority (FCA), has put itself up for sale after its parent company, Eqonex, was put under judicial management in Singapore last week, according to a person familiar with the matter. Nasdaq-listed holding company Eqonex (EQOS) entered into voluntary liquidation after a takeover deal by Bitfinity, a payments firm owned by crypto exchange Binance, fell through at the final hurdle. (Coindesk)

Comments 0

Breaking: Ankr Confirms Exploit, Asks for Immediate Trading Halt

The BNB Chain-based decentralized finance (DeFi) protocol Ankr has confirmed it has been hit by a multi-million dollar exploit on Dec. 1. The attacker was purportedly able to mint 20 trillion Ankr Reward Bearing Staked BNB (aBNBc), a reward-bearing token for BNB staked on the protocol. The exploiter has since used services such as Uniswap, Tornado Cash, and various bridges to swap and obfuscate the funds and has successfully gained around 5 million USD Coin.

Comments 0

'Big Short' Investor Michael Burry Warns of Extended Multi-Year Recession in US

Hedge fund manager Michael Burry, famed for forecasting the 2008 financial crisis, has warned about “an extended multi-year recession” in the U.S. He believes there isn’t a strategy to pull us out of “this real recession.” (Bitcoin.com)

Comments 0

This AI Chatbot is Either an Exploiter's Dream or Their Nightmare

ChatGPT, a chatbot tool built by AI research company OpenAI, was released on Nov. 30 and was designed to interact “in a conversational way” with the ability to answer follow-up questions and even admit mistakes, according to the company. However, some Twitter users have come to realize that the bot could potentially be used for both good and evil, as it can be prompted to reveal loopholes in smart contracts. (Cointelegraph)

Comments 0

Trader Joe Takes its First Step Into the Ethereum Ecosystem

Decentralized finance (DeFi) protocol Trader Joe has announced its very first expansion from Avalanche and onto the Ethereum ecosystem, as part of its plans to access new markets and drive up user activity. The decentralized trading platform announced its “multi-chain” expansion into Ethereum layer-2 scaling solution Arbitrum One on Dec. 1 and follows around a month after it stated its intention to expand to additional markets and ink new partnerships amid falling TVL and user activity in the third quarter. (Cointelegraph)

Comments 0