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Binance pauses Ankr withdrawals after possible token hack

Published 12/02/2022, 02:45 AM
Updated 12/02/2022, 03:55 AM
© Reuters. FILE PHOTO: Zhao Changpeng, founder and chief executive officer of Binance speaks during an event in Athens, Greece, November 25, 2022. REUTERS/Costas Baltas/File Photo

(Reuters) -Binance paused withdrawals of Ankr tokens after the cryptocurrency exchange's CEO Changpeng Zhao said the tokens were possibly targeted by hackers.

Ankr told decentralized exchanges to block trading and said it will re-issue the tokens after assessing the situation.

© Reuters. FILE PHOTO: Zhao Changpeng, founder and chief executive officer of Binance speaks during an event in Athens, Greece, November 25, 2022. REUTERS/Costas Baltas/File Photo

Zhao also said the exchange had frozen about $3 million that hackers moved to the Binance's centralized exchange.

"Initial analysis is developer private key was hacked, and the hacker updated the smart contract to a more malicious one", Zhao tweeted.

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