Qubit Finance suffers $80 million loss following hack
The addresses linked to the hack attack have managed to steal 206,809 Binance Coin from Qubit's QBridge protocol. High-profile hacks have become more prevalent throughout the cryptocurrency market, and Qubit Finance is one of the latest decentralized finance (DeFi) protocols to be exploited by hackers.Hackers were able to access and steal over $80 million from Qubit Finance which is based on Binance Smart Chain the protocol confirmed via a tweet Friday. The addresses linked to the assault stole 206,809 Binance Coin (BNB) from Qubit's QBridge protocol. The assets are valued at more than $80....
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Findings stemming from a recent report published by the security-focused blockchain firm Certik indicate that the Binance smart chain Ethereum bridge called Qubit has been hacked for $80 million. Data shows on January 27, 2022, an attacker siphoned a number of tokens from an exploit on Qubit Finance’s bridge and Certik says the hack is “by far the largest exploit of 2022 to date.” Qubit’s Binance Smart Chain Ethereum Cross-Chain Bridge Attacked for $80 Million in Defi Tokens A decentralized finance (defi) exploit tied to Qubit Finance’s Binance smart....
The exploit took place on the Ethereum-BSC bridge that saw the hacker use $185 million as collateral to steal $80 million worth of tokens from lending pools. The development team behind Bunny Finance and Qubit has decided to disband the protocol and turn it into a decentralized autonomous organization (DAO).In an official medium post published on Friday, The Bunny Finance team announced that the exploit on Qubit that resulted in $80 million worth of loss has made it impossible for the team to operate at full scale. Thus, they have decided to disband the protocols and give authority to the....
Hackers exploited Qubit Finance’s protocols, a Decentralized Finance project (DeFi), and stole $80 million worth of cryptocurrencies on Thursday, making it the most famous crypto heist of 2022 to date. After the incident, the firm has been begging cybercriminals to return stolen funds to figure out the situation as many people have lost their hard-earned […]
Ethereum defi protocol Cream Finance suffered an exploit yesterday that allowed attackers to steal $130 million from its holdings. The news was first revealed by Peckshield, a blockchain analytics company that discovered a flash loan had exploited the platform. This is the third hack the protocol has suffered in its history, being exploited for $36 and $29 million before, respectively.
Cream Finance Hacked Yet Again
Cream Finance, an Ethereum-based lending and borrowing protocol, suffered an exploit that allowed the hackers to steal $130 million worth of ether and ERC-20 tokens.....
One of Turkey’s most prominent crypto exchanges BtcTurk has suffered a cyber attack leading to unauthorized access to some of its hot wallets. The exchange has reported some level of asset loss, however, they claim enough financial stability to overcome this setback. Related Reading: May Madness: Crypto Industry Suffers $385 Million Loss To Hackers $5.3 […]