Qubic Halts Network After $1.3M–$1.4M Wallet Theft

Qubic halted its layer-1 blockchain after attackers exploited a weak seed-generation process in some older wallets, stealing about 2.94 trillion QUBIC from 1,404 wallets. The theft took place on 17 October and was completed in about 104 minutes; estimates put the stolen tokens’ value at $1.3 million to $1.4 million. Qubic said the issue affected certain wallets created through Apple browsers or an early iOS app, but did not indicate a general vulnerability in Apple devices or other crypto wallets. Qubic paused the network to restrict further transfers. About 87.1% of the stolen tokens remained on-chain when the chain was halted, while the portion sent to MEXC was frozen. The reports also said exchanges including MEXC, Bitget and XT suspended some QUBIC deposits or withdrawals; XT also paused KASPLEX transfers. Frozen funds have not necessarily been recovered, and compensation arrangements remain unresolved. Qubic has not announced a restart date, with recovery decisions awaiting network operators known as Computors. Qubic released wallet version 4.26.4 with a revised random-number process. Updating the software does not secure old seed phrases, so users with potentially affected wallets may need to create new wallets and move assets once the network resumes. QUBIC fell about 10.42% on 18 October as the theft and network halt weighed on sentiment. Traders are watching for a safe restart, clearer guidance for affected users, and decisions on recovery or compensation.