Qubic, a layer-1 blockchain network, froze its operations on Sunday after an attacker exploited weak wallet seeds to steal approximately $1.4 million from over 1,400 accounts. The vulnerability affected wallet seeds generated using any browser on an iPhone or iPad, Safari on a Mac until October 18, 2026, or the Qubic iOS app before July 2025. The attack resulted in the theft of 2.94 trillion Qubit (QU), with 87.1% of the drained funds remaining frozen on the Qubic network. The remaining 12.9% was sent to the exchange MEXC, which quickly froze the receiving account.
The attack is part of a growing trend of exploits tied to weak wallet seeds. Earlier this year, Coldcard disclosed a similar issue due to a firmware bug, while Trust Wallet’s browser extension and the Libbitcoin Explorer tool faced similar flaws in 2023. Qubic has since fixed the seed-generation flaw in the latest version of its web wallet by replacing JavaScript’s Math.random() function with the cryptographically secure crypto.getRandomValues() function.
Qubic’s core team is currently identifying affected wallets and preparing recovery options for a vote by the network’s Computors. The team plans to publish a full technical report after a recovery plan is settled but has not announced when the network will restart. At the time of writing, Qubic’s token had a market capitalization of about $62.6 million, according to CoinGecko.
In the third quarter of 2026, hacks and exploits accounted for 19% of crypto crime cases but 40% of reported losses, according to AMLBot’s investigations report. The report analyzed 250 investigations opened since the start of the year, highlighting the significant impact of such attacks on the crypto ecosystem.