News and Updates on Information Technology

Qubit Finance platform hacked with $ 80 million worth of cryptocurrencies

Exploit: Hacking

Qubit Finance: De Fi Platform

cybersecurity news gauge indicating extreme risk

Risk to Business: 1.204= Extreme

A threat actor has stolen approximately $80 million from Qubit Finance after exploiting a flaw in the De Fi platform. Qubit said the attacker was able to steal 206,809 Binance coins (BNB) from its wallet on January 27, 2022. The hacker used a vulnerability in one of its Ethereum blockchain contracts to do the deed. The company has issued a public plea for the threat actor to return the stolen funds, asking them to get in contact with its team to “disclose the bug and receive a bounty reward”. This is sometimes used as a means of circumventing legal trouble for paying a ransom.

Individual Impact: No information about exposed customer personal or financial data was available at press time.

Customers Impacted: Unknown

How it Could Affect Your Customers’ Business DeFi has been buried under an avalanche of cybercrime lately and there doesn’t appear to be an end in sight.

Source: The Record Media