A compromised private key has led to an ‘infinite mint’ exploit targeting Ankr, with the fallout causing amplified collateral damage to stablecoin project Helio Money.

Ankr provides liquid staking services on Binance’s BNB blockchain, among others. Users can deposit BNB which is locked up to secure the chain under the Proof of Stake model, receiving a deposit token in return.

The exploited token, aBNBc, accumulates staking rewards via Ankr while allowing users to use their capital elsewhere in DeFi, or effectively withdraw their staking position by swapping back to BNB.

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