Qubic Reopens Network and Launches Victim Compensation Following $1.4M Security Breach
Following a $1.4 million exploit targeting wallet vulnerabilities, Qubic has brought its blockchain back online and initiated a claims process for recovery, urging affected users to transfer assets from compromised seeds.
The Layer-1 blockchain platform Qubic has brought its network back online and initiated a compensation procedure following a security breach involving wallet seed vulnerabilities that enabled an attacker to siphon approximately $1.4 million worth of QU tokens from 1,404 user accounts, as reported in the project's most recent announcement.
According to Qubic's blockchain explorer, the network began processing ticks again at 8:00 pm on Oct. 19, moving forward from tick 85,371,949, the point at which operations were suspended on Sunday.
The project announced that its network validators, referred to as Computors, had given their approval to a recovery strategy and that a claims platform for impacted wallet owners had been made available.
Users who were impacted by the breach can verify their address and file a claim via Qubic's reclaim platform. According to Qubic, affected users have a deadline of May 1, 2027, to file their claims.
Operations on the network were suspended on Sunday as a preventive measure to stop any additional transfer of stolen assets after attackers took advantage of predictable wallet seeds that were created by compromised wallet software.
The security flaw impacted wallet seeds that were created using Qubic's web wallet on specific Apple devices and browsers, in which an inadequate random-number generator was capable of creating predictable seeds. On Sunday, Qubic announced that the seed-generation vulnerability had been remedied in the most recent version of its web wallet.
"If you created your wallet with the Qubic web wallet before version 4.26.4 (released 19 October), treat it as insecure, even if your funds were never touched," said Qubic on Tuesday.
"Update to web wallet 4.26.4 or later, then create a new wallet," said the team. "Move your funds to the new wallet as soon as you can, and never use the old one again."