DeFi protocol X-Bridge, the cross-chain bridge of Qubit Finance, was exposed to an attack that resulted in a loss of $ 80 million.
X-Bridge, which allows to transfer assets between Ethereum and Binance Smart Chain, experienced an attack of $ 80 million. The attacker used $185 million as collateral to steal $80 million from pools of loans.
Blockchain security firm CertiK, in its review of the attack, concluded that there was a logical error in X-Bridge’s smart contract code that allowed the attack. The bug allowed the attacker to withdraw tokens not deposited in Ethereum from the Binance Smart Chain. For every ERC-20 token deposited on the bridge, X-Bridge issues a BEP-20 token that can be used on the BSC network.
The attacker stole wETH worth $37.6 million, 767 BTC-B worth $28.5 million, various stablecoins worth about $9.5 million, and CAKE, BUNNY and MDX tokens worth about $5 million.
Protocol said it was contacting the attacker to offer the bounty.
50315
