According to breaking news, blockchain security platform Cyvers Alerts announced that it detected a total of $11.3 million in suspicious transactions linked to UXLINK.
According to the report, an Ethereum address removed its administrator role by executing a delegateCall operation, then calling the “addOwnerWithThreshold” function. This address then transferred approximately 4 million USDT, 500,000 USDC, 3.7 WBTC, and 25 ETH. All USDC and USDT holdings were converted to DAI on the Ethereum network, while USDT on Arbitrum was converted to ETH and bridged to the Ethereum network.
A few minutes later, a different address reportedly received around 10 million UXLINK tokens (approximately $3 million) and began swapping, but $2.2 million in assets still remain unswapped.
Cyvers stated that the operations are still ongoing and warned the community to be careful.
*This is not investment advice.
