UXLINK, a decentralized finance (DeFi) platform that prides itself on managing secure multi-chain tokens, recently found itself entangled in a web of chaos. A major security breach compromised its multi-signature wallet, allowing a substantial amount of cryptocurrency to be spirited away to both centralized exchanges (CEXs) and decentralized exchanges (DEXs).
Approximately 14 hours ago at 5:40 PM UTC, UXLINK issued an urgent notice, confirming the breach. The team, working tirelessly with internal and external experts, aimed to uncover the cause and mitigate the damage.
Major exchanges were swiftly contacted to freeze suspicious deposits, and authorities were enlisted to expedite legal and recovery efforts. UXLINK assured the community of its commitment to transparency and keeping them informed.
First Update on Recovery
About 10 hours after the initial alert, UXLINK shared an update indicating that most of the stolen tokens had been frozen, thanks to the rapid response of major exchanges. The security firm PeckShield was brought in to assist in the investigation and recovery of funds.
The team reassured users that regular wallets remained unaffected and emphasized their priority in safeguarding the community’s assets and compensating those impacted.
Unauthorized Token Minting
At 1:36 AM UTC, UXLINK disclosed that unauthorized UXLINK tokens had been minted, contravening the project’s official whitepaper. The community was warned against trading $UXLINK on decentralized exchanges, as these unauthorized tokens could lead to losses.
UXLINK affirmed that the whitepaper remains the definitive guide for token supply and announced plans for a token swap to rectify the situation and maintain the token economy.
Latest Discovery: Phishing Exploit
Scam Sniffer reported that the hacker employed a malicious increaseAllowance approval to a phishing contract, resulting in the transfer of approximately 542 million UXLINK, valued at roughly $45.5 million, to phishing addresses. Data from Arbiscan detailed the breakdown of these transfers.
Emergency Measures
UXLINK is taking swift action to address the crisis. Major exchanges have been urged to temporarily halt UXLINK trading, and preparations for a token swap are underway. The team pledged to remain transparent, recover the stolen funds, and restore trust in the project.
UXLINK Price Crashes After Update
Following the recent announcements, UXLINK’s price plummeted nearly 99.99% in a single day, dropping to $0.0000009065. Its market cap now stands at approximately $4.34K, while 24-hour trading volume surged to $485.19M, indicating heavy activity amidst the price collapse.
Read More
- Trails in the Sky 2nd Chapter launches September 17
- HBO Max Just Added the Final Episodes of a Modern Adult Swim Classic
- Paradox codes (April 2026): Full list of codes and how to redeem them
- PRAGMATA ‘Eight’ trailer
- Pragmata Shows Off Even More Gorgeous RTX Path Tracing Ahead of Launch
- Crimson Desert’s Momentum Continues With 10 Incredible New Changes
- Hulu Just Added One of the Most Quotable Movies Ever Made (But It’s Sequel Is Impossible To Stream)
- Solo Leveling’s New Character Gets a New Story Amid Season 3 Delay
- Dragon Quest Smash/Grow launches April 21
- How Could We Forget About SOL Shogunate, the PS5 Action RPG About Samurai on the Moon?
2025-09-23 11:33