While this report is not yet detailed. But it seems that Qubit Finance is Defi The protocol was Exploited.
In the morning of January 28, the team posted a message.warnon twitter, stating that an attacker has taken advantage of the system gap to generate unlimited tokens on the platform it resides on. Binance Smart Chain
“Protocol was Exploited by [ที่อยู่กระเป๋าเงิน] The hacker has created unlimited xETH tokens on the platform. BSC At the moment the team is collaborating with the team insafetyand networks to fix it.”
Qubit Exploited Over $80 Million
Blockchain and smart contract security monitoring firm PeckShield has confirmed that Qubit’s systems have been exploited.
“Looks like @QubitFin’s QBridge was hacked to generate massive amounts of xETH to secure the loan for a mutual fund worth around $80 million. Please note that the company has only audited the lending portion of the system. Not on the part of QBridge.”
by the team of Qubitstarttrace traces ofPeople who use system vulnerabilitiesand check assets It then contacted the hacker to offer the reward in exchange.
RugDoc, a platform to report attacks It said that there were 3-4 attacks on this protocol.
An investigation on BSCscan, the Exploit Wallet, revealed that over 206,809 USD ($79.7 million) of BNB was held.
CertiK Security reports that the hacker ran QBridge’s Ethereum-side deposit functionality, but did not actually deposit it. As a result, xETH is generated for attackers on the BSC side.
“Qubit treats deposits as ETH deposits because the ‘deposit’ and ‘depositETH’ functions in the QBridge contract are arranged as one.”
Ranked 7th on Defi Hacked Platforms
The attack process was repeated several times until the damage value was close to $80 million. which made this attack ranked 7th out ofdatabase Rekt database of the DeFiYield platform
Qubit Finance is a loan delivery lending protocol for Binance Smart Chain, with QBT platform tokens dropping 31% after news of the attack was announced. It is currently trading as low as $0.04, down more than 99.2 percent from its September high of $0.58.
Last month, Grim Finance lost $30 million from Exploit. About a week later, around $1.1 million was stolen by Brinc Finance.
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