Qubic Restarts Blockchain After $1.4 Million Wallet Hack

The network halt, triggered at tick 85,371,949 on October 18, served as a defensive measure to freeze stolen assets before they could be fully laundered. Qubic reported that roughly 87% of the compromised funds remained on-chain, while the exchange MEXC froze the remaining 13% shortly after the breach. Verified owners have already begun receiving initial reimbursements, though the team has not specified the exact volume of distributed funds.

Security investigators traced the breach to insufficient randomness in how the project generated wallet seeds, specifically affecting browsers on Apple devices and older versions of the iOS application. While Qubic released version 4.26.4 to patch the vulnerability, the team warned that simply updating the software is insufficient. Users who generated wallets prior to the update must create entirely new credentials and migrate their funds, as existing seeds remain mathematically predictable and insecure.

To manage the recovery, the project launched a portal where victims can submit claims through May 1, 2027. Because an attacker possessing a compromised seed could theoretically replicate valid wallet signatures, the platform requires additional proof of ownership, such as exchange withdrawal receipts or established transaction trails. Qubic representatives explicitly cautioned users against private messages from accounts claiming to facilitate the recovery process, emphasizing that the project will never solicit private recovery phrases.