A hacker gained access to 1,400 crypto wallets using guessed passwords

An unknown hacker breached 1,404 crypto wallets on the Qubic platform and withdrew tokens worth approximately $ 1.3 million. The entire operation took less than two hours.

The breach was caused by a vulnerability in the wallet generation software. Due to an error in the code, seed phrases—the secret combinations of words that protect access to funds—were generated in a predictable manner. The attacker exploited this to gain access to other users' accounts.

The issue affected wallets created on iPhones, iPads, and in the Safari browser on Macs. Users of other platforms were not affected.

As soon as the scale of the attack became clear, the Qubic team shut down the entire network to prevent further movement of the stolen funds.

According to the developers, most of the tokens were successfully frozen directly on the blockchain. The remainder were blocked on the MEXC cryptocurrency exchange, where the hacker had attempted to withdraw the funds.