UXLINK – a project that claims to be a Web3 social networking platform – has just suffered a security vulnerability that could cause tens of millions of dollars in damage, causing the Token price to drop more than 70%.
In a Monday announcement on X, the project confirmed that its multisig wallet was hacked, resulting in a large amount of crypto being withdrawn to both CEX and DEX. Previously, Cyvers Alerts discovered an ETH address using delegateCall to remove admin rights, add a new multisig, and then transfer at least 4 million USDT, 500,000 USDC, 3.7 WBTC, and 25 ETH. Lookonchain said the hacker also Token Sale to 6 different wallets, earning about 6,732 ETH (~$28.1 million).
The project said that most of the hacker's assets have been blocked by major exchanges, limiting further risks. However, the attacker continued to illegally Mint about 10 trillion UXLINK Token , causing the Token price to plummet to $0.08912. The project warned the community not to trade the Token on DEX at this time to avoid losses.
The project team also said that they are working with CEXs to pause trading and will soon announce a Token Swap plan.
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The article UXLINK was hacked, the attacker Mint Token and withdrew millions of dollars appeared first on CoinMoi .
