Qubit Finance was exploited through a vulnerability in its QBridge deposit function that allowed the attacker to drain protocol assets, with linked analyses reporting losses around $77 million to $80 million. Subsequent reporting described the incident as a North Korea-linked DeFi attack pattern involving exploitation of a bridge protocol, movement of funds across blockchains, mixing, and transfer toward centralized exchanges.
Annex 95: Suspected DPRK cyberattacks on cryptocurrency-related companies (2017-2023) investigated by the Panel. Table 2022: Victim: Qubit Finance; Date: January; Amount (USD equivalent): 80m; Location: ROK
Reported: 2022-01; Victims: Qubit Finance; Motivations: FinancialGain; Sectors: Cryptocurrency; Countries: United Kingdom
this hack was likely the work of North Korea-linked hackers
Annex 95: Suspected DPRK cyberattacks on cryptocurrency-related companies (2017-2023) investigated by the Panel ... Qubit Finance January 80m ROK