UXLINK Faces $11.3M Hack, Prompting Urgent recovery efforts
UXLINK, a Web3 social platform, recently suffered a important security breach. Attackers exploited admin rights, draining about $11.3 million in assets. The incident involved rerouting funds across Ethereum and Arbitrum networks.
The platform is now collaborating with exchanges and law enforcement to freeze stolen funds and investigate the incident. This comes just months after UXLINK celebrated its third anniversary, boasting over 55 million users.
On September 22, blockchain security firm Cyvers detected suspicious transactions from a UXLINK protocol address. The hackers used a “delegateCall” to seize control, removing the admin role and adding a new owner. They stole around $11.3 million, including stablecoins, WBTC, and ETH. The stolen funds were quickly moved across various networks, likely to launder the money. the team responded swiftly,issuing an urgent security notice. They confirmed a “significant amount of cryptocurrency” was transferred to exchanges.
UXLINK is working with major exchanges to freeze suspicious deposits. They’ve also reported the incident to the police.
UXLINKS rapid response highlights the severity of the breach. The timing is notably challenging, as it overshadows recent milestones. The platform had celebrated its third anniversary in July, marking global growth and regulatory compliance.
The hack challenges UXLINK’s image as a stable and compliant infrastructure provider. The platform has not provided further updates as of now.
