Hackers hacked the Qubit Finance project and stole $80 million

The organization’s representatives contacted the attackers and offered a “maximum reward” if they return the stolen funds

28.01.2022 - 09:20

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What’s new? Hackshield, a cybersecurity and audit firm, has reported that the attackers withdrew funds worth $80 million from the pool of the DeFi-project Qubit Finance. The hackers managed to gain unrestricted access to the QBridge bridge of the lending protocol.

The protocol was exploited by;0xd01ae1a708614948b2b5e0b7ab5be6afa01325c7The hacker minted unlimited xETH to borrow on BSC.The team is currently working with security and network partners on next steps.We will share further updates when available.— Qubit Finance (@QubitFin) January 28, 2022

What do the project’s creators say? The company has confirmed the hack and said that the stolen funds are already being traced. The organization’s representatives have contacted the attackers and offered a “maximum reward” if they return the entire amount. A statement from Qubit Finance says:

“The hacker minted unlimited xETH to borrow on Binance Smart Chain. The team is currently working with security and network partners on the next steps.”

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