Hackers have stolen $80 million in cryptocurrency from the Qubit DeFi platform

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Illustration by Alex Castro / The Verge

Qubit Finance, a decentralized finance (DeFi) platform, has become the latest victim of a high-value theft, with hackers stealing around $80 million in cryptocurrency on Thursday.

The value of cryptocurrency stolen makes this the largest hack of 2022 so far.

Qubit Finance acknowledge the hack in an incident report published through Medium. According to the report, the hack occurred at around 5PM ET on the evening of January 27th.

Qubit provides a service known as a “bridge” between different blockchains, effectively meaning that deposits made in one cryptocurrency can be withdrawn in another. Qubit Finance operates a bridge between Ethereum and the Binance Smart Chain (BSC) network.

Analysis produced by CertiK, a blockchain auditing and...

Continue reading…



source https://www.theverge.com/2022/1/28/22906366/cryptocurrency-hackers-steal-qubit-binance-ethereum

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