Bunny and Qubit turns to DAO following $80 million bug exploit
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....
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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 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....
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 […]
Trippy Bunny NFT, a new Solana-based nonfungible token project, decided that it would donate 100% of its mint sale proceeds to the American Foundation for Suicide Prevention. Trippy Bunny made this announcement on Twitter on Suicide Prevention Day. World Suicide Prevention Day (WSPD) is an awareness day observed on September 10th every year. Since 2003, […]
The latest in a recent spate of decentralized finance hacks. Another decentralized finance protocol was subject to a major exploit on Friday, May 28, after $7.2 million was drained from BurgerSwap (BURGER) on Binance Smart Chain.Varying amounts of seven different cryptocurrencies were stolen amid the attack, including $3.2 million worth of BURGER tokens, $1.6 million worth of Wrapped BNB (WBNB) and $1.4 million worth of Tether (USDT). The funds were still being sold off at time of publication.BurgerSwap launched in late 2020 as what was thought to be a clone of the Uniswap decentralized....