On September 23, the decentralized social project UXLINK was suddenly attacked by hackers, who tampered with multi-signature permissions and stole over $11 million in assets. The attackers then gained minting rights and issued an additional 1 billion UXLINK tokens on-chain. Following the news, UXLINK's value plummeted nearly 65% overnight, with a price of $0.1 at the time of writing.
After the attack, UXLINK's official team quickly responded, stating that most of the stolen funds had been frozen and that they were working with a security company to recover the assets and initiate a token swap. Below is the key timeline of the event and subsequent observations, BlockBeats will continue to monitor and provide real-time updates:
September 23
11:48 | UXLINK Hacker May Have Fallen Victim to Inferno Drainer Phishing Attack
Yuxian, the founder of Slow Mist, tweeted that the UXLINK hacker may have encountered a phishing attack from Inferno Drainer. "The approximately 542 million UXLINK tokens previously stolen may have been phished away by Inferno Drainer using standard authorization phishing techniques."
11:13 | Disposal Plan: Token Swap to Be Initiated
UXLINK's official team stated that they detected malicious actors continuously minting unauthorized UXLINK tokens. UXLINK is urgently contacting trading platforms to suspend token deposits and trading and to initiate a token swap. More details and explanations regarding the token swap will be announced soon. The team emphasized that this incident did not affect individual user wallets. UXLINK promised to compensate affected users with tokens and has begun enhancing security measures, including upgrading the multi-signature wallet mechanism and introducing hardware wallets for asset storage.
11:04 | Pionex Security Alert: Do Not Interact
According to Pionex monitoring, since today's UXLINK hacker has gained minting rights and 1 billion UXLINK tokens have just been minted on Arbitrum, the tokens are now compromised. Users are reminded not to interact with UXLINK tokens.
11:01 | Exchange Risk Control: Upbit Alerts & Suspends Deposits
According to an official announcement, Upbit has listed UXLINK as a trading alert token. The deposit service for UXLINK has been suspended, and the recovery time for the deposit service will be notified separately according to the procedures after being designated as a trading alert matter.
The announcement stated that Upbit discovered numerous defects in UXLINK, posing potential risks to users, for the following reasons: based on best practices for virtual asset trading, there have been security incidents such as hacking, and the issuer or operator failed to timely disclose important information about the virtual asset through appropriate electronic media. Therefore, Upbit has designated UXLINK as a trading alert asset to protect investors.
Trading alert period: Tuesday, September 23, 2025, 12:00 PM (KST) - Friday, October 17, 2025, 11:59 AM (KST)
09:53 | Hacker Minting Exposed: 1 Billion UXLINK
According to market news, the hacker has minted 1 billion UXLINK on-chain.
09:44 | UXLINK: Freezing Progress & Compensation Plan
The official team stated that they have been closely cooperating with major trading platforms over the past few hours, and most of the stolen assets have been frozen, with collaboration with trading platforms ongoing.
UXLINK's top priority is to ensure the security of community assets and to recover assets as much as possible. They have also hired Pionex to support the ongoing investigation and enhance recovery efforts. Currently, there are no signs that individual user wallets have been attacked. The next step is to formulate a clear plan to restore and compensate affected accounts. Protecting community interests remains UXLINK's highest priority, and they will continue to share verified updates.
09:08 | Official Confirmation of Attack, Attempting to Freeze Suspicious Deposits and Report to Authorities
UXLINK's official team stated that they have discovered a security vulnerability involving their multi-signature wallet, leading to a large amount of cryptocurrency being illegally transferred to CEX and DEX. The team is working with security experts to identify the cause and control the situation, has contacted trading platforms to freeze suspicious UXLINK deposits, and has reported to the police and relevant authorities to promote legal accountability and asset recovery.
00:49 | Initial Report: Suspected Attack, Loss Exceeds $11 Million
Cyvers detected approximately $11.3 million in suspicious transactions related to UXLINK: the attack address removed admin privileges via delegateCall, called addOwnerWithThreshold, and transferred out $4 million USDT, $500,000 USDC, 3.7 WBTC, and 25 ETH; USDT/USDC on Ethereum was exchanged for DAI, and USDT on Arbitrum was exchanged for ETH and crossed back to Ethereum. Subsequently, the related address received 10 million UXLINK (approximately $3 million) and began exchanging.
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