Qubic Network Halts Operations Following Exploit of 1,400 Wallets

Key Facts

1Qubic network froze operations after an attacker drained funds from 1,400 wallets that utilized weak recovery seeds.

2Approximately 87.1% of the stolen funds remain on-chain, while the rest were frozen at the MEXC crypto exchange.

The Qubic network froze its operations after an attacker drained funds from 1,400 wallets that utilized weak recovery seeds. Cointelegraph reported that the breach targeted wallets linked to Apple devices, leading network validators to halt the blockchain to vote on a recovery plan.

Approximately 87.1% of the stolen funds remain on-chain as of October 19, 2026, while the remaining portion was frozen at the MEXC crypto exchange. The network halt occurs amid a lack of updated price data for the token, as technical efforts continue to address the security vulnerability that resulted in the loss of approximately $1.3 million.