Qubic Halts Chain After 2.94T QU Drain Hits 1,404 Wallets in Weak-Seed Security Exploit

Key Takeaways:

• The attacker stole 1,404 wallets and about 2.94 trillion QU from them.
• At tick 85,371,949 Qubic suspended the network to prevent any more movement.
• 87.1% of the dollars withdrawn are still on-chain, with MEXC holding the remaining 12.9% in its system.

Qubic has suspended its network after an attacker exploited weak wallet seeds and drained thousands of accounts in a security incident spanning October 17 – 18. The insufficiency of randomness was the issue of not the Qubic protocol itself, the project said.

Security incident update.

Between 23:42 UTC on 17 October and 01:26 UTC on 18 October, an attacker drained 1,404 Qubic wallets, totalling around 2.94 trillion QU.

Here is what happened, what has been done, and what comes next. https://t.co/7aPJ26lEeZ

— Qubic (@_Qubic_) October 18, 2026

Qubic Freezes Network After 1,404 Wallets Are Drained

The attack was carried out between Oct. 17, 00:42 UTC and Oct. 18, 01:26 UTC and impacted about 1,404 wallets, eradicating approximately 2.94 trillion QU. Transaction processing was halted by Computors, which have established a protective network halt at tick 85,371,949, the time at which the incident was said to occur.

That action has hindered the attacker’s ability to freely move the stolen wealth. Qubic said that 87.1% of the deleted QU never went out of the net and are stuck there. The remainder (12.9%) went to crypto exchange MEXC, which froze the receiving wallet approximately one hour after receiving a call.

Notifying and suspending QUBIC deposits and withdrawals was also done for other exchanges.

Qubic is tracing the incident back to the lack of randomness in wallet seeds. The impacted app versions are: all generated seeds before October 18, 2026, in Safari on Mac before the same date, and the Qubic iOS app up to July 2025.

Read More: Bitget Halts Withdrawals After $351.6M Hot Wallet Incident Hits Crypto Exchange

Version 4.26.4 Fixes the Seed Generation Issue

The problem has already been addressed for version 4.26.4, so no weak seeds will be formed with it, said the project.

The Core team has now started to find all the impacted wallets and is ready to take the necessary steps to recover them. The quorum of the Computor shall take the final decision on the frozen funds, in accordance with the governance rules of Qubic’s network.

They’re also holding a community poll over Discord, to better understand the sentiment of Computors before they put in a proposal for recovery.

Recovery Process Moves to the Computor Quorum

Normal transaction processing has not been announced by Qubic yet. Affected users have been urged to police or cybercrime authorities and provide their wallet ID, amount lost and relevant links within the Qubic explorer of the transaction.

It could be helpful to involve exchanges in maintaining freezes on associated funds in the form of a formal report. Qubic also cautioned against recovery scams saying its team would never reach out to customers initially to ask them for wallet seeds or provide paid recovery services.

Once the network comes to a decision about the recovery and frozen QU’s, a full technical report should be expected.

Read More: Liquid Network Pauses After 4,000 BTC Worth $320M Pulled in White-Hat Incident

The post Qubic Halts Chain After 2.94T QU Drain Hits 1,404 Wallets in Weak-Seed Security Exploit appeared first on CryptoNinjas.

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