Hackers steal $80 million from Qubit cryptocurrency platform

Qubit is appealing to a hacker to get his money back after he stole $80 million from it

Cryptocurrency loan platform Qubit Finance has become the latest victim of a massive theft, as a hacker stole the equivalent of $80 million in cryptocurrency on Thursday, making it the biggest hack of 2022 to date.

A statement posted by the Qubit Finance platform team on Twitter directly appealed to the hacker and asked him to negotiate with the team to minimize losses to the Qubit community, offering him a maximum reward in exchange for the money back.

Analysis released by audit and cybersecurity firm CertiK indicates that the hacker exploited a vulnerability in Qubit’s smart contract token that allowed him to send a deposit of 0 ETH and withdraw nearly $80 million from the Binance Smart Chain network in return.

Qubit Finance offers an intermediary service between different blockchains which means that deposits made in one cryptocurrency can be withdrawn into another, and
the Qubit Finance platform operates a bridge between Ethereum and the Binance Smart Chain Network.