UXLINK Hacker’s $28M Heist Backfires: Phishing Snags 500 Billion Tokens

UXLINK's native token experienced a 77% decline following the disclosure of a security breach in its multi-signature wallet on September 22, 2025UXLINK plunges 77% after multisig wallet breach^[1]. The incident, first flagged by blockchain security firm Cyvers Alerts, involved unauthorized minting of approximately 10 trillion UXLINK tokensUXLINK suffers exploit as hacker seizes admin rights to mint …^[2]. The attacker exploited a vulnerability in the project’s smart contracts, seizing control of the multisig wallet and draining assets including $4 million in USDT, $500,000 in USDC, 3.7 WBTC, and 25 ETHUXLINK Token Crashes 90% After Hacker Mints Billions of Tokens^[3]. On-chain analytics indicate the hacker converted stolen tokens into 6,732 ETH ($28.1 million) via decentralized exchangesUXLINK Token Crashes 90% After Hacker Mints Billions of Tokens^[3].

The breach triggered immediate market volatility, with the token price plummeting from $0.30 to $0.07–$0.10 within hoursUXLINK plunges 77% after multisig wallet breach^[1]UXLINK suffers exploit as hacker seizes admin rights to mint …^[2]. Major exchanges, including Upbit, froze $5–7 million in suspicious deposits to mitigate further losses. UXLINK confirmed collaboration with PeckShield and other security experts to investigate the incident and reported the theft to law enforcementUXLINK plunges 77% after multisig wallet breach^[1]. The project also announced plans to implement a token swap program to replace illegally minted tokens with legitimate ones, aiming to restore market integrityUXLINK Token Crashes 90% After Hacker Mints Billions of Tokens^[3].

The scale of the attack raised concerns about UXLINK’s governance and security protocols. On-chain data revealed the hacker initially minted 1 billion tokens, later increasing the total to 10 trillionUXLINK Token Crashes 90% After Hacker Mints Billions of Tokens^[3]. Despite the massive supply inflation, the attacker faced an ironic reversal: a phishing attack reportedly caused the loss of 500 billion UXLINK tokensUXLINK Token Crashes 90% After Hacker Mints Billions of Tokens^[3]. This twist highlighted the risks of unsecured private keys and underscored the interconnected nature of crypto exploits.

UXLINK’s response included temporary trading halts on centralized exchanges and efforts to freeze stolen assetsUXLINK suffers exploit as hacker seizes admin rights to mint …^[2]. A significant portion of the illicitly transferred funds were immobilized, with exchanges playing a critical role in minimizing community lossesUXLINK plunges 77% after multisig wallet breach^[1]. The team emphasized no individual user wallets were compromised, but urged traders to avoid decentralized exchanges until the situation stabilizedUXLINK suffers exploit as hacker seizes admin rights to mint …^[2].

The incident has broader implications for the crypto market. Similar breaches in recent months have led to sharp price corrections and eroded investor confidence. For UXLINK, the breach tests its ability to recover market trust through transparent governance and robust security upgrades. Analysts note that the project’s token swap plan and audit of its smart contracts will be pivotal in determining long-term stabilityUXLINK plunges 77% after multisig wallet breach^[1].