There has been an event that will shake the agenda in the crypto money market, which has become extremely popular in recent years and has been the subject of investments by millions of people in Turkey. While the number of exchanges with numerous cryptocurrencies and tokens increased in parallel with the number of cryptocurrencies, fraud and theft incidents began to become widespread. While several exchanges defrauded users in our country, pushing users to proven exchanges, the emerging information was that millions were stolen from a DeFi protocol using Binance Smart Chain (BSC).
The theft on the DeFi platform Qubit, which runs on the Binance Smart Chain blockchain, went down in history as the biggest hacker event of the year so far. The hacker noticed the vulnerabilities of the DeFi platform and transferred a large amount of crypto money to his own account.
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$80 million worth of cryptocurrencies stolen from Qubit Finance
The hacker, who stole about $ 80 million in crypto assets from Qubit Finance, a DeFi protocol, took advantage of a vulnerability in the system. The statement made by the blockchain security firm CertiK detailed the transaction carried out over the Ethereum-BSC bridge called X-Bridge. According to the statement, although the attacker did not invest in Ethereum, he pulled them through BSC.
The attacker used 77,162 qXETH ($185 million) worth approximately $185 million as collateral. The attacker, who pretended to deposit money into QBridge’s smart contract to mint qXETH, which represents Bridged Ethereum to the exchange, disappeared, withdrawing a total of $80 million in cryptocurrencies (209,809 BNB). Qubit Finance, which reached out to the attacker afterwards, stated that they were ready to offer a reward of $250,000 for finding the hacker in exchange for the return of the stolen assets.
Stating that such attacks have occurred many times and that this is the 7th biggest attack among DeFi protocols, CertiK also warned the platforms. In addition, Qubit announced that all transactions related to deposits, withdrawals and transfers from the platform are disabled until further notice. Qubit’s own token, on the other hand, lost 30 percent in 24 hours.
So what do you think about cryptocurrencies? Are these coins and exchanges safe? You can specify in the comments…