Qubic Network halts operations after a security breach drains 1,400 wallets, with 87.1% of stolen funds tracked on-chain and a recovery vote pending.
Qubic is facing significant operational instability following a security breach that resulted in the compromise of 1,400 user wallets due to weak seed generation. The network has been forced into a chain freeze, and the project's future now hinges on a pending validator vote regarding a recovery plan to address the 87.1% of stolen funds still traceable onchain.
The breach was caused by weak seed generation, which allowed an attacker to drain 1,400 wallets.
87.1% of the stolen funds remain onchain, while the remainder has been successfully frozen at the MEXC exchange.
Qubic Network has halted its blockchain operations following a security breach that compromised 1,400 user wallets. Developers report that 87.1% of the stolen assets remain on-chain, while additional funds have been frozen at the MEXC exchange as the community prepares to vote on a formal recovery plan.
The breach was attributed to the use of weak seed generation, which allowed attackers to drain funds from 1,400 individual wallets.
Approximately 87.1% of the stolen funds are still traceable on-chain, and some assets have been frozen at the MEXC exchange.