Key Takeaways
- • Qubic lost approximately $1.3 million worth of QU tokens after 1,404 wallets were drained of about 2.94 trillion QU, according to Pluang's report dated October 18, 2026.
- • The theft was enabled by predictable wallet recovery seeds generated by older Apple devices and browsers, meaning the root cause was wallet-level security rather than a blockchain protocol flaw.
- • Qubic's validators halted network transactions, freezing most stolen funds on the paused network, while an exchange froze a separate portion.
- • Victim reimbursement depends on decisions by Qubic's validators, with the stolen tokens largely immobilized as of the report.
- • Exchanges MEXC and Bitget suspended QUBIC deposits and withdrawals, with MEXC attributing the halt to a request from the Qubic project team and Bitget citing wallet maintenance.
Summary
Qubic, a blockchain network, suffered a theft in which 1,404 wallets were drained of roughly 2.94 trillion QU tokens, worth about $1.3 million, according to Pluang. The incident occurred between October 17 and October 18, 2026. Pluang attributes the losses to predictable wallet recovery seeds generated by older Apple devices and browsers, a weakness that sits in wallet security rather than in the blockchain itself.
In response, Qubic paused all network transactions. Validators froze most of the stolen funds on the paused network, and an exchange froze another portion of the proceeds. Because the tokens remain largely immobilized, any reimbursement to affected users depends on decisions made by Qubic's validators.
Trading venues reacted as well. MEXC and Bitget both suspended QUBIC deposits and withdrawals effective October 18. MEXC said the suspension was requested by the Qubic project team, while Bitget attributed its halt to wallet maintenance.
The broader market backdrop was weak on the same day. Pluang's snapshot as of 21:21 WIB on October 18, 2026 showed 43 of 50 major cryptocurrencies it tracks declining, with only 4 rising. The report separately noted that U.S. spot Ethereum ETFs recorded about $320.1 million in net outflows in the week ending October 16, exceeding Bitcoin ETF outflows of $228.4 million.
In response, Qubic paused all network transactions. Validators froze most of the stolen funds on the paused network, and an exchange froze another portion of the proceeds. Because the tokens remain largely immobilized, any reimbursement to affected users depends on decisions made by Qubic's validators.
Trading venues reacted as well. MEXC and Bitget both suspended QUBIC deposits and withdrawals effective October 18. MEXC said the suspension was requested by the Qubic project team, while Bitget attributed its halt to wallet maintenance.
The broader market backdrop was weak on the same day. Pluang's snapshot as of 21:21 WIB on October 18, 2026 showed 43 of 50 major cryptocurrencies it tracks declining, with only 4 rising. The report separately noted that U.S. spot Ethereum ETFs recorded about $320.1 million in net outflows in the week ending October 16, exceeding Bitcoin ETF outflows of $228.4 million.
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