Qubit Finance

Hackers Breach Qubit Finance Platform, Stealing $80 Million

January 28, 2022
Attack Types: 
Smart Contract Exploit
Entity Types: 
DeFi ,Lending Platform
Target Entities: 
Qubit Finance

Summary # On January 28, 2022, Qubit Finance, a project built on the BNB Chain (formerly known as Binance Smart Chain), announced a breach of its QBridge credit protocol on their Twitter page. The platform was hacked due to a specific vulnerability in the bridge. Hackers were able to mint an unlimited amount of xETH as collateral for loans on the Binance Smart Chain network. The platform’s native token, QBT, plummeted by 26% overnight. ...