Qubic Loses 1,404 Wallets, $1.3 Million in QU Stolen and Network Suspended

Qubic disclosed that between October 17 and 18, 1,404 wallets were compromised, resulting in the transfer of approximately 2.94 trillion QU, valued at $1.3 million. The unauthorized transfers occurred between 11:42 PM and 1:26 AM the following day, prompting network validators to suspend transactions at tick 85,371,949. The incident involved predictable wallet seeds generated by older Apple devices and browsers, and the related issues have been fixed in version 4.26.4. Developers managed to protect other at-risk funds before the attackers could transfer them. Approximately 87.1% of the stolen QU remains on the suspended Qubic network, while 12.9% was transferred to the cryptocurrency exchange MEXC and has been frozen. The cryptocurrency exchange Bitget has suspended QUBIC deposits and withdrawals, and whether victims will be compensated will be determined by Qubic's Computor cluster. QEARN staking remains unaffected.

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