Qubic halts blockchain after $1.4 million hack drains 1,400 wallets, most funds frozen

Qubic, a layer-1 blockchain platform, has paused its network following a major security breach in which approximately $1.4 million in tokens were stolen from over 1,400 wallets. The exploit resulted in the theft of around 2.94 trillion Qubic (QU) tokens. The Qubic blockchain was stopped at tick 85,371,949 on October 18, after the platform detected that funds were being illicitly withdrawn. As of the latest update, the network remains offline with no announced restart date. The project’s core team identified that the attacker exploited wallets whose recovery seed phrases were created with insufficient randomness.

Source: CoinTurk News