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.