Hacker draws $ 80 million from Qubit Cross-Chain Bridge, so far the largest Defi Exploit from 2022-

Results from a recently published report by the security-oriented blockchain company Certik indicate that the Binance Smart Chain ↔ Ethereum Bridge called Qubit was hacked for $ 80 million. Data show that on January 27, 2022, an attacker has stolen a number of tokens from an exploit on the bridge of Qubit Finance and says Certik that the hack is "by far the largest exploit in 2022".

Binance Smart by Qubit Chain ↔ Ethereum Cross-Chain Bridge for $ 80 million in defi tokens

An exploit for decentralized finances (defi) bound to qubit-finance ’s binance smart charcain ↔ ethereum bridge led to a loss of 80 million dollar according to to the blockchain security experts from certik . Qubit Finance is a defi protocol that offers credit functions and a cross-chain bridge between BSC and offers ETH .

unfortunately looks like @qubitfin from the team to @pancakebunnyfin was exploited for over $ 80 million in assets.

Address of the exploiter: https://t.co/s2wdcilho

- Stefan (🦎,@) (@0xCryptostefan) 27. January 2022

The cross-chain-bridge was exploited by the malicious attacker who managed to offset 77,162 QXETH in order to borrow money and convert the funds into other funds. The hacker was essentially able to use stolen coins to obtain “$ 15,688 Weth ($ 37.6 million), 767 BTC-B ($ 28.5 million), about $ 9.5 million in various stable coins and $ 5 million in Cake, Bunny and MDX”. certik The post-mortem analysis from explains:

Essentially, the attacker used a logical error in the code of Qubit Finance, which enabled him to enter malignant data and tok Token on Binance Smart as none was stored on Ethereum.

certik: "People have to bridge crypto-assets in a way that is not susceptible to hackers"

Currently the The address still contains all stolen coins, for example at the time of writing this article $ 79,332,154. Certik says that the Cross-Chain-Bridge-Schwachstelle emphasizes two important things. "The importance of cross-chain-bridges that facilitate interoperability between blockchains [and the] importance of the safety of these bridges." Cross-chain-bridge technology has grown sharply in the past 12 months.