PeckShield, a blockchain security and smart contract auditing service, validated the flaw, saying: “It seems the QBridge of @QubitFin is hacked to mint huge amount of xETH collateral and drain the pool funds about $80M. Please note we audited the Qubit lending, not the QBridge!” The operation was done numerous times to increase the plunder which totaled approximately $80 million, making this breach the seventh-largest according to DeFiYield’s Rekt database.