Qubic restarts blockchain, launches recovery after $1.4 million wallet exploit

Layer-1 blockchain Qubic has resumed its network operations and initiated a recovery effort following a substantial security incident that resulted in the loss of approximately $1.4 million in QU tokens. According to the latest update from the Qubic team, an attacker exploited a vulnerability in wallet seed generation, successfully draining funds from 1,404 user accounts. Blockchain explorer data indicates that Qubic restarted the processing of blocks, or “ticks,” at 8:00 pm on October 19. The network had previously been halted at tick 85,371,949 in response to the exploit, which occurred on Sunday. This pause was implemented to stop any further unauthorized movements of funds.

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