UXLINK’s Misfortunes: A Tale of $11.3M & 70% Plunge 🏦💥

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It is with the utmost dismay that we must relate the lamentable tale of UXLINK, a project most grievously afflicted by a most heinous exploit upon the 22nd of September, wherein no less than $11.3 million in assets were pilfered with the dexterity of a thief in a panto. Alas, the villains (or perhaps merely the more cunning members of society) exploited a vulnerability in the multi-signature wallet, thereby acquiring admin rights as if by magic. One might say it was a most ingenious plan, though not one likely to endear them to the ladies.

Details of the Breach

CyversAlerts, a most vigilant blockchain sentinel, took to X with haste to apprise the community of these nefarious transactions. Their analysis revealed a rogue Ethereum address employing a “delegateCall” to strip away admin privileges and install a new master with all the subtlety of a usurper in a pantomime. The funds-$4 million in USDT, $500,000 in USDC, 3.7 WBTC, and 25 ETH-were spirited away with such alacrity that one might suspect the hackers had a private carriage.

These ill-gotten gains were then converted to DAI and ETH with the efficiency of a high-class broker, and not long after, a second address received 10 million UXLINK tokens, traded as if at a bustling market. UXLINK, ever the gracious host, confirmed the breach with a solemn X post, vowing to work with security experts to “contain the damage.” One wonders if they might also consult a physician for the inevitable headaches.

UXLINK Plunges by Over 70%

Despite the valiant efforts of exchanges such as Upbit, the token’s fortunes plummeted with the speed of a poorly timed debutante’s reputation. PeckShieldAlert noted the hacker’s audacious minting of 1-2 billion UXLINK tokens, nearly doubling the supply. With 490 million dumped across exchanges, the price tumbled from $0.30 to $0.09, a drop so steep it would make Mr. Darcy weep.

Though Upbit froze $5-7 million, the remainder-valued at $28.1 million in ETH-remained under the attacker’s control. In a most ironic twist, the villains themselves became victims of the Inferno Drainer group, losing 542 million tokens. One might say the universe has a sense of humor, albeit a cruel one.

UXLINK now proposes a token swap to restore order, a plan as ambitious as it is necessary. Let us hope this proves more successful than their previous endeavors. Until then, the market awaits with bated breath, much like a heroine awaiting her suitor’s return.

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2025-09-24 01:54