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Cryptocurrencies: 25799
Markets: 103857
Market Cap: $2,671,173,322,305     
24h Vol: $42,155,958,097
Seeking Alpha 2022-12-02 13:37:35

Binance suspends withdrawals of ankr tokens after private key hack

Binance suspends withdrawals of ankr tokens after private key hack
Binance, the world's largest cryptocurrency exchange by trading volume, halted withdrawals of ankr ( ANKR-USD ) coins after a private key, a sort of password that allows users to access their funds, got hacked, the company's CEO wrote in a Twitter post Friday. "Initial analysis is developer private key was hacked, and the hacker updated the smart contract to a more malicious one," Changpeng Zhao explained, adding that Binance froze about $3M that hackers moved to its centralized exchange (CEX). Ankr said it told decentralized exchanges (DEXes) to block trading and noted it will re-issue tokens after the exploit has been assessed. ANKR tokens slipped 3.4% to two cents in Friday morning trading, down from its April peak of around $0.18. The cryptoverse has been stung by a slew of high-profile blockchain attacks in recent months. For instance, Binance temporarily halted its blockchain network on October 7 after an attacker stole 2M of its BNB tokens.
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