'Quantum-Resistant' Blockchain QANplatform Suffers Bridge Hack for Over $1 Million

In the early hours of the morning, QANPlatform's Ethereum bridge smart contract was exploited for over $1 million.

Layer 1 blockchain QANplatform, which touts itself as resistant to attacks aided by quantum computing power, was today the target of a bridge hack that resulted in the theft of 1.4 billion QANX tokens (just over a million dollars).

Blockchain security company Peckshield was the first to flag the attack in a QANplatform-tagged tweet early Tuesday morning. The initial heist looted over 1.4 billion QANX tokens, according to Etherscan, and was followed by additional smaller transactions to the same address, this time sending 28.6 million QANX, or roughly $20,500.

Shortly after Peckshield got in touch, QANplatform tweeted its own announcement, asking people not to perform any transactions with $QANX. A follow-up tweet said that all trading, withdrawals, and deposits on centralized exchanges had been paused.

Decrypt reached out to a representative from Peckshield who explained the attacker's steps: “The exploiter withdrew ~1.4B QANX from the deployer's address and swapped it for ~3,090 $BNB ($837.5k) and ~256 $ETH ($328k). Let's say it’s about $1.2 million in total.”

Peckshield also confirmed it was not investigating the theft with QANplatform.