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2h ago

UXLINK Plans Token Swap After $11.3M Multisig Hack as Exploiter Loses ~$48M to Phishing

Freezes by major exchanges set the stage for a token swap to repair the project’s compromised supply.

UXLINK reports security breach in multi-signature wallet; stolen funds relocated
hacker breach scam
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UXLINK plunges 77% after multisig wallet breach

Overview

  • Security firm analyses point to a delegateCall exploit that stripped admin control from UXLINK’s multisig, enabling roughly $11.3 million to be drained across Ethereum and Arbitrum.
  • The attacker minted between 1–2 billion UXLINK on Arbitrum and offloaded large tranches, with analytics estimating proceeds of about 6,732 ETH bridged to Ethereum.
  • UXLINK says user wallets were not directly compromised as it works with law enforcement, PeckShield, and major venues to freeze deposits and investigate.
  • The team has urged exchanges to suspend trading and announced a forthcoming token swap intended to restore supply integrity after the unauthorized minting.
  • In a new twist, ScamSniffer and SlowMist report the exploiter lost about 542 million UXLINK tokens (roughly $43–50 million) to a phishing drain linked to Inferno Drainer.