Qubit Finance Hacked, Lost $80M, QBT Price Down More Than 20%
Qubit Finance, a decentralized money market platform that uses the speed, automation, and security of blockchain to efficiently and securely connect lenders and borrowers, was recently hacked under the report of auditing firm PeckShield.
The attacker took a large amount of xETH collateral and about $80 million from the pool’s funds.
It seems the QBridge of @QubitFin is hacked to mint a massive amount of xETH collateral, draining the pool funds of around $80 million. Please note that we checked Qubit Borrowing, not QBridge! There’s more to come…
— PeckShield Inc. (@speckshield) January 27, 2022
Blockchain journalist Wu Blockchain report that Qubit Finance attack address is 0xd01ae1a708614948b2b5e0b7ab5be6afa01325c7 and the stolen ETH, BTCB, DAI and other assets were exchanged to BNB. Currently, the wallet address has over 200,000 BNB worth nearly $80 million.
A few hours ago, the project’s official Twitter account confirmed the hack, saying:
“The team is working with network and security partners to determine next steps and will continue to track attackers and the direction of movement of stolen assets. Additionally, the team contacted the hacker to agree on a bonus tier for asset recovery.
Source: Twitter
Original token price from Qubit Finance, QBT, is down more than 21% from an intraday high of $0.0067 to a low of $0.0048.
Source: Coinmarketcap
Join CoinCu Telegram to keep track of news:Â https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
Author
Market
Qubit Finance Hacked, Lost $80M, QBT Price Down More Than 20%
Qubit Finance, a decentralized money market platform that uses the speed, automation, and security of blockchain to efficiently and securely connect lenders and borrowers, was recently hacked under the report of auditing firm PeckShield.
The attacker took a large amount of xETH collateral and about $80 million from the pool’s funds.
It seems the QBridge of @QubitFin is hacked to mint a massive amount of xETH collateral, draining the pool funds of around $80 million. Please note that we checked Qubit Borrowing, not QBridge! There’s more to come…
— PeckShield Inc. (@speckshield) January 27, 2022
Blockchain journalist Wu Blockchain report that Qubit Finance attack address is 0xd01ae1a708614948b2b5e0b7ab5be6afa01325c7 and the stolen ETH, BTCB, DAI and other assets were exchanged to BNB. Currently, the wallet address has over 200,000 BNB worth nearly $80 million.
A few hours ago, the project’s official Twitter account confirmed the hack, saying:
“The team is working with network and security partners to determine next steps and will continue to track attackers and the direction of movement of stolen assets. Additionally, the team contacted the hacker to agree on a bonus tier for asset recovery.
Source: Twitter
Original token price from Qubit Finance, QBT, is down more than 21% from an intraday high of $0.0067 to a low of $0.0048.
Source: Coinmarketcap
Join CoinCu Telegram to keep track of news:Â https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
Other Posts
Related Posts
Latest
New York Techie Bagged $72M from $15K Investment in Ethereum — Here’s How BlockDAG Can Offer Similar Jackpot
Press Release
New York Techie Bagged $72M from $15K Investment in Ethereum — Here’s How BlockDAG Can Offer Similar Jackpot
Best Altcoins to Buy Today: Qubetics Rides 1000x Potential to Hit $2.6M, Ethereum Stays Rangebound, Tron USDT Transactions Hit $52B
