An attacker drained about $1.4 million from more than 1,400 Qubic wallets — and the whole network is now frozen. Traders and holders now wait for a recovery vote that will decide whether the frozen coins ever move again.
Key points:
• Qubic halted its chain at tick 85,371,949 after weak wallet seeds were exploited.
• About 2.94 trillion QU were stolen; 87.1% stayed frozen onchain and the rest was frozen at MEXC.
• Network Computors will vote on a recovery plan, and no restart date has been announced.
Qubic said the flaw hit wallet seeds created with a browser on an iPhone or iPad, with Safari on a Mac until October 18, or with the Qubic iOS app before July 2025. The project has fixed the bug in its latest web wallet, replacing the weak Math.random() method with the secure crypto.getRandomValues() method in version 4.26.4.
Most of the money never escaped. Qubic said 87.1% of the drained funds never left the network and remain frozen in place, while the remaining 12.9% was sent to the MEXC exchange, whose team froze the receiving account within about an hour.
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What happens next for Qubic holders?
The core team is now identifying the affected wallets and preparing recovery options for a vote by the network's Computors, who will decide what happens to the frozen funds. A full technical report is promised after the plan is settled, but there is still no date for restarting the network. Qubic is a feeless layer-1 chain built on Useful Proof of Work, and its token had a market value of about $62.6 million, according to CoinGecko.
The theft is the latest in a series of attacks tied to weak wallet seeds, after similar flaws hit Coldcard, Trust Wallet's browser extension and the Libbitcoin Explorer tool in past cases. For traders, the lesson is simple: update the Qubic wallet, check whether your seed was made on an affected device, and wait for the official restart and recovery news before moving funds.
Read also: Bitcoin at $80,967: $294 Million Longs Bleed — Black Monday Next?
— Crypto News Daily News Desk
This post is news only, not financial advice. Always do your own research before buying or selling crypto.
Sources: Cointelegraph, CoinGecko
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