Here’s a counterintuitive question: After hackers looted 1,404 wallets on an entire public blockchain, stealing around $1.4 million, the team abruptly hit pause, freezing the chain at tick 85371949. A few days later, they restarted it with one click and even launched a claims portal where users can fill out a form to claim their funds before May 1, 2027.
This isn’t a movie plot—it’s what Qubic did this week. The hackers’ method was wild, too: the random number generator for wallet recovery phrases was flawed on Apple devices, making the seeds predictable. The hackers worked out the seeds and emptied 1,404 wallets. On Tuesday, the team also warned that all wallets created with versions earlier than 4.26.4 should be considered unsafe, and urged users to create new ones and move their funds ASAP.
Just one question: A public blockchain that can be stopped and restarted at will—before the hackers had even finished, it killed the chain itself. How is that any different from a centralized server? Supporters say it protected users’ funds and cut losses in time; critics say this is crypto’s biggest black swan: decentralization turns out to be nothing but a scrap of paper in a crisis.
Let’s hear it in the comments: A, this move was a lifesaver; B, this is just a corporate server wearing a blockchain costume. Sound off!
#BlockchainSecurity
$BTC $ETH $SOL
This isn’t a movie plot—it’s what Qubic did this week. The hackers’ method was wild, too: the random number generator for wallet recovery phrases was flawed on Apple devices, making the seeds predictable. The hackers worked out the seeds and emptied 1,404 wallets. On Tuesday, the team also warned that all wallets created with versions earlier than 4.26.4 should be considered unsafe, and urged users to create new ones and move their funds ASAP.
Just one question: A public blockchain that can be stopped and restarted at will—before the hackers had even finished, it killed the chain itself. How is that any different from a centralized server? Supporters say it protected users’ funds and cut losses in time; critics say this is crypto’s biggest black swan: decentralization turns out to be nothing but a scrap of paper in a crisis.
Let’s hear it in the comments: A, this move was a lifesaver; B, this is just a corporate server wearing a blockchain costume. Sound off!
#BlockchainSecurity
$BTC $ETH $SOL