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Source: Сointеlеgrаph

A group calling itself “Victims of the Ankr Exploiter” said its members lost more than 13,000 liquid BNB coins (more than $4 million at the time of writing) as a result of the December 2 Ankr exploit, but have not received adequate reimbursement. Ankr company. According to the group’s January 19 statement obtained by , the affected members claimed they only received half of the amount they lost. The group called on Binance’s Changpeng Zhao (also known as “CZ”) to put pressure on Ankr to get the funds.

The group specifically stated that the refund plan published by Ankr on December 20 was unfair to liquidity providers on the Wombat exchange. Under this plan, Ankr offered to “partially cover the loss of stkBNB liquidity providers on Wombat.” Ankr argued that a full refund would be unfair because the “nature of mixed liquidity pools” on Wombat makes it difficult to determine how much liquidity providers have lost.

The Ankr exploit victim group admitted that Ankr compensated them for 50% of the BNB lost in the attack, but insisted that they should have compensated them 100%.

The group argued that Ankr refused to fully refund them because the lost liquid staking tokens stkBNB and BNBx were competitors to Ankr’s own ankrBNB tokens:

“It is clear that there is unjustified segregation and discrimination against victims. And [a] the fact that out of the X protocols affected, only two of them (Stader and pSTAKE), direct competitors to Ankr, see their users being discriminated against as victims.”

Referring to a tweet from ZachXBT, they claimed that Ankr was in a position to fully refund them as it returned 1,559 ETH (roughly $2.4 million at the time of writing) from Huobi Global after the attacker tried to use it for cashout.

Related: Uniswap is considering launching on the BNB network

The Ankr team responded to these allegations in a January 25 email sent to . In an email, an Ankr spokesperson said the refund plan was “more than generous” for liquidity providers on Wombat. From the company’s perspective, much of the loss of stkBNB and BNBx on Wombat was due to poor risk management of these competing staking protocols and Wombat’s illiquidity, as they explained:

“50% of all BNBx and stkBNB liquid staking came from Wombat alone due to Stader and pStake incentives. This represents a clear concentration risk[…]Ankr cannot be held responsible for the lack of risk management of other pools. In comparison, Ankr was paying Wombat pools 4 times what the TVL aBNBc we had on Wombat was, which is more than generous.”

The team further argued that critics of the plan did not understand the “flow of money” that resulted in the loss of funds, stating:

“We have to comprehend what happened and follow the movement of money. The exploiter sold aBNBc on Wombat for BNB and then for BNBx and stkBNB. He then sold BNBx and stkBNB on other DEXs where there was more BNB liquidity.[…]Some people have made money from this story.”

The Ankr team also claimed that they did not return enough funds to compensate users, stating that “criminal investigations are ongoing to return some of the funds, and the amount we think we can return is significantly less than we paid.”

The Ankr BNB staking protocol was hacked on December 2, 2022, and the attacker was able to obtain $5 million in cryptocurrency from the attack. On December 21, the company announced that the attack was carried out by a former employee. In the same statement, he vowed to strengthen his security practices and make amends to victims.

Source: Сointеlеgrаph

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