Hackers Steal $80 Million From DeFi Project Qubit Finance
Main page News, Hacker Attack, DeFi
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Jan. 28, 2022

Unknown attackers have hacked the decentralized finance industry (DeFi) project Qubit Finance and removed assets worth approximately $80 million from its pool, cybersecurity and auditing firm PeckShield has reported.

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Representatives of the project have confirmed the attack and said they are tracking the stolen assets, and have also contacted the hackers and offered them the "maximum reward." Qubit Finance said in a statement:

"The hackers have issued a huge amount of xETH collateral that was then used to drain the entire amount of BNB held on QBridge. At the moment, the team is working on the next steps."

It must be noted that the price of the project's native token has plummeted 25% after the Qubit Finance hack became known. The crypto is trading 99% below its all-time high of $0.58, which was reached in September last year.

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