Qubic reported that a flaw in its wallet creation mechanism led to the theft of approximately 2,94 trillion QU from 1.404 wallets, while halting network transactions and intervening to freeze the funds.
According to Qubic’s statement, as reported by Wu Blockchain, the attack took place between 17 Ekim 23.42–18 Ekim 01.26 UTC, or 18 Ekim 02.42–04.26 Türkiye time. The attacker exploited insufficient randomness in generating the secret starting data, known as seeds, for certain wallets.
Flaw Found in Wallet Creation Process
A seed is secret data used to generate the keys that provide access to a wallet. Generating this data without sufficient randomness left the affected wallets vulnerable to attack. Qubic said the issue was with the seed generation mechanism, not the protocol itself.
As part of its response, the team halted network transactions at transaction step number 85.371.949, at the “tick” level, as the network calls it. Exchanges also suspended QUBIC deposits and withdrawals.
87% of Funds Frozen on the Network, the Rest in an Exchange Account
According to the statement, 87,1 percent of the stolen funds were frozen on the Qubic network. The remaining 12,9 percent had been transferred to MEXC; the recipient account holding these funds was also frozen.
As a result, the intervention was not limited to tokens on the network; an account-level restriction was also imposed on the portion transferred to the exchange. The next steps regarding the return of the funds to users depend on the network’s decision-making process.
Patch Released, Next Step Awaits Network Decision
Qubic said the seed generation issue was fixed in version 4.26.4. Under network rules, subsequent decisions on resolving the incident will be made by the required majority of network participants known as Computors.
Not investment advice.