Qubic, a layer-1 blockchain network, stopped running on Sunday. The project says an attacker took about $1.4 million from more than 1,400 accounts. According to Qubic, the attacker got in through wallet seeds that had been generated weakly.
Most of the money has not left the chain. Qubic says 87.1% of the stolen funds are still onchain. The rest reached the crypto exchange MEXC, where it was frozen.
Network validators are getting ready to vote on a plan to recover the funds. The source does not say what the plan contains, when the vote will take place, or when the chain will restart. It also does not name the attacker or say how the weak seeds came to be generated.
For anyone already holding a perpetual position on Bitget, Bybit, MEXC or OKX, this changes nothing directly. The report does not mention any perpetual contract tied to Qubic, or any change to funding, fees or liquidity at these exchanges. MEXC's only part in the story is that it froze some of the stolen funds.
Source: cointelegraph — Qubic freezes chain after attacker drains 1.4K wallets with weak seeds