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Detail Analysis

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Date:

Status:

Count:

Contributor:

January 27, 2022

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Verified

1

zerofriction.io

Loss Amount:

80,000,000

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Recovered Amount:

-

Currency:

Dollars, xETH

KYC By:

Audit By:

None

Peckshield

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Key Indicators

Platform:

Type:

Category:

Method:

Ethereum

Protocol

Lending

Contract Vulnerabilities

Extended Method:

lack of validation

Data Sources:

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Qubit is Mound’s innovative DeFi protocol optimized to deliver “Lending as a utility”. The Qubit protocol was subject to an exploit to our QBridge deposit function.The attacker called the QBridge deposit function on the ethereum network, which calls the deposit function QBridgeHandler. QBridgeHandler should receive the WETH token, which is the original tokenAddress, and if the person who performed the tx does not have a WETH token, the transfer should not occur. tokenAddress.safeTransferFrom(depositer, address(this), amount); In the code, tokenAddress is 0, so safeTransferFrom didn’t fail and the deposit function ended normally regardless of the amount value. Additionally, tokenAddress was the WETH address before depositETH was added, but as depositETH is added, it is replaced with the zero address that is the tokenAddress of ETH. In summary, the deposit function was a function that should not be used after depositETH was newly developed, but it remained in the contract. 77,162 xETH were liquidated.

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DISCLAIMER: While Zero Friction LLC has used the best efforts in aggregating and maintaining this database, Zero Friction LLC makes no representations or warranties with respect to the accuracy or completeness, and specifically disclaim any implied warranties of merchantability or fitness for any particular purpose. 

Under no circumstances, shall Zero Friction LLC be liable for any loss of profit or funds, any regulatory or governmental penalties, any legal costs, or any other commercial and non-commercial damages, including but not limited to special, incidental, consequential, or other damages from any or all usage of the dataset or information derived from our database.