{"id":57385,"date":"2022-02-08T17:36:55","date_gmt":"2022-02-08T15:36:55","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=57385"},"modified":"2025-09-04T11:28:48","modified_gmt":"2025-09-04T08:28:48","slug":"qidao-defi-protocol-loses-13-million-in-hack","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/qidao-defi-protocol-loses-13-million-in-hack\/","title":{"rendered":"QiDAO DeFi protocol loses $13 million in hack"},"content":{"rendered":"<p>QiDAO protocol for issuing <a href=\"https:\/\/u1f987.com\/en\/news\/what-are-stablecoins\">stablecoin<\/a> on the Polygon network reported a breach of the authorization-transfer smart contract that used code from the Superfluid cash-flow management platform.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">Superfluid&#8217;s vesting contract for QI has been exploited. <\/p>\n<p>User funds on QiDao contracts remain safe. The exploit is solely on Superfluid.<\/p>\n<p>We will release an update when we know more.<\/p>\n<p>\u2014 Qi Dao (@QiDaoProtocol) <a href=\"https:\/\/twitter.com\/QiDaoProtocol\/status\/1490944375165128706?ref_src=twsrc%5Etfw\">February 8, 2022<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to blockchain-security firm SlowMist, the hacker siphoned off about $13 million in various coins, including USDC, WETH and the <a href=\"https:\/\/u1f987.com\/en\/news\/what-is-a-dao-decentralised-autonomous-organisation\">DAO<\/a> governance token of the QI protocol.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">3) We will continue to monitor the movement of stolen funds. <a href=\"https:\/\/twitter.com\/hashtag\/Superfluid?src=hash&#038;ref_src=twsrc%5Etfw\">#Superfluid<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/QiDao?src=hash&#038;ref_src=twsrc%5Etfw\">#QiDao<\/a> <a href=\"https:\/\/t.co\/RLk9Dc5cI5\">pic.twitter.com\/RLk9Dc5cI5<\/a><\/p>\n<p>\u2014 SlowMist (@SlowMist_Team) <a href=\"https:\/\/twitter.com\/SlowMist_Team\/status\/1490989181379969025?ref_src=twsrc%5Etfw\">February 8, 2022<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to a statement from the QiDAO team, user funds were not affected. The incident affected assets of early investors and some &#8220;other tokens&#8221;.<\/p>\n<p>The project temporarily paused cross-chain bridges and began investigating the incident.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">1\/2<\/p>\n<p>Quick Update. We&#8217;re still assessing the situation.<\/p>\n<p>\u2014 We can confirm that all funds in QiDao are safe. <br \/>\u2014 No user funds have been affected. <br \/>\u2014 We&#8217;re aware there are other tokens affected. <br \/>\u2014 We&#8217;ll update the community when we learn more.<br \/>\u2014 Qi bridging is temporarily paused.<\/p>\n<p>\u2014 Qi Dao (@QiDaoProtocol) <a href=\"https:\/\/twitter.com\/QiDaoProtocol\/status\/1490985946346844162?ref_src=twsrc%5Etfw\">February 8, 2022<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>After the funds were withdrawn, the attacker began mass-selling QI tokens on the primary exchange listing for the Quickswap asset, driving the price down by 68% to $0.18.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/Slippage?src=hash&#038;ref_src=twsrc%5Etfw\">#Slippage<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24QI&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$QI<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/QiDAO?src=hash&#038;ref_src=twsrc%5Etfw\">#QiDAO<\/a> price dropped -68.05% <a href=\"https:\/\/twitter.com\/hashtag\/Polygon?src=hash&#038;ref_src=twsrc%5Etfw\">#Polygon<\/a> <a href=\"https:\/\/t.co\/CozWr2kwOZ\">https:\/\/t.co\/CozWr2kwOZ<\/a> <a href=\"https:\/\/t.co\/3Fef1PTG4A\">pic.twitter.com\/3Fef1PTG4A<\/a><\/p>\n<p>\u2014 PeckShieldAlert (@PeckShieldAlert) <a href=\"https:\/\/twitter.com\/PeckShieldAlert\/status\/1490942458741792772?ref_src=twsrc%5Etfw\">February 8, 2022<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>As of writing, the asset&#8217;s price had recovered to around $0.70.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh5.googleusercontent.com\/rFSh7TsKJXySR7m7rH99Nl91wQvcnZoHSv_YU6YorTUToFHlHaYvTxY9eFrJgM-hXWV-9xJ89pT7ItSBarzWefQJ6lElz0SxW71QsYpzoIXS7naaMNuy8ASiyTHluzfcjzIXED16\" alt=\"QiDAO DeFi protocol loses $13 million in hack\"\/><figcaption>15-minute QI\/DAI chart on Quickswap. Data: <a href=\"https:\/\/dexscreener.com\/polygon\/0xe7519be0e2a4450815858343ca480d1939be7281\">DeFiScreener<\/a>.<\/figcaption><\/figure>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;We value the support from both our community and the DeFi ecosystem at large,&#8221; the protocol team wrote on Twitter.<\/p>\n<\/blockquote>\n<p>QiDAO enables issuing a US-dollar-pegged stablecoin MAI backed by crypto assets, in a manner similar to the Ethereum-based project <a href=\"https:\/\/u1f987.com\/en\/news\/what-are-makerdao-mkr-and-the-dai-stablecoin\">MakerDAO<\/a>.<\/p>\n<p>Earlier in February, hackers withdrew 120 000 WETH \u2014 <a href=\"https:\/\/u1f987.com\/en\/news\/hackers-drain-more-than-319-million-from-wormhole-cross-chain-bridge-pool\">over $319 million<\/a> at the time of the breach \u2014 from the Wormhole cross-chain protocol built on Solana.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>QiDAO protocol for issuing a stablecoin on the Polygon network reported a breach of the authorization-transfer smart contract that used code from the Superfluid cash-flow management platform.<\/p>\n","protected":false},"author":1,"featured_media":57386,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1154,1093],"class_list":["post-57385","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-crimes","tag-defi"],"aioseo_notices":[],"amp_enabled":true,"views":"28","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/57385","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=57385"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/57385\/revisions"}],"predecessor-version":[{"id":57387,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/57385\/revisions\/57387"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/57386"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=57385"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=57385"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=57385"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}