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aBNBc was attacked by a Hacker, and the minting function vulnerability caused a big dump of the Token.
On December 2, a laboratory discovered through on-chain data monitoring that the aBNBc project was attacked by a hacker, resulting in a large-scale token issuance transaction. The hacker successfully issued a large number of aBNBc tokens, some of which were exchanged for BNB on a decentralized trading platform, while others were kept in a wallet. In addition, the hacker also used mixing tools for fund transfers. This attack caused the liquidity pool of aBNBc tokens to be depleted, leading to a big dump in the coin price, while the attacker used the issued tokens for collateralized lending, causing losses to the lending platform.
After analyzing multiple transaction data, it was found that despite different caller addresses, they all resulted in token issuance. The project had conducted a contract upgrade before being attacked, and the upgraded logic contract's issuance function lacked permission checks.
The attacker invoked a specific function in the logic contract through a proxy contract. Due to the lack of permission verification in that function, a large amount of aBNBc tokens were issued. After the attack, the project team updated the logic contract again, adding a permission check mechanism to the issuance function in the new version.
Currently, the hacker has exchanged part of the newly issued aBNBc for BNB and transferred it, while a large amount of remaining aBNBc is still stuck in the attacker's Wallet.
The attack primarily stemmed from the contract upgrade, where the minting function in the new logic contract lacked permission checks, allowing the Hacker to indiscriminately mint Tokens. It is currently unclear whether untested and unaudited contract code was used or if the Hacker upgraded the contract due to a private key leak.
This event reminds users and project parties to properly safeguard their wallet private keys and mnemonic phrases, avoiding casual storage. At the same time, when upgrading contracts, comprehensive security testing must be conducted to prevent similar risks.