UXLINK Prepares Token Swap After Hacker Drains Millions in Assets

Highlights:

• UXLINK is preparing a token swap to protect its ecosystem from a wallet breach.
• Hackers stole $11.3 million and minted billions of UXLINK tokens.
• The original hacker lost $48 million in a phishing scam after the attack.

UXLINK has announced a token swap to lock up its ecosystem following the exploitation of its multi-signature wallet by hackers. The platform liaised with major centralized exchanges to freeze suspicious deposits and suspend trading at once. The team stressed that the personal wallets of the users were not compromised by the hack.

Security Notice Update 3

We have detected that a malicious actor is continuously conducting unauthorized minting of UXLINK tokens. To safeguard our community and ecosystem, we are taking immediate emergency measures:

1. We are urgently reaching out to major centralized…

— UXLINK (@UXLINKofficial) September 23, 2025

The token swap will restore the supply to match UXLINK’s whitepaper rules. PeckShield has joined the effort to audit the protocol thoroughly. Law enforcement agencies now assist in recovering stolen funds. The platform assured that it will provide the instructions via official communication in order to guide the users through the swap.

UXLINK emphasized its transparency and protection of more than 55 million users in over 100 countries. The team observed that the response that needs to be taken is to act swiftly to gain confidence and stabilize the value of the token. Exchanges are working together to ensure that no more tokens flow without authorization.

The project is still monitoring its systems to rule out any other vulnerabilities. This proactive measure aims at winning over the token economy and strengthening trust in investors. According to UXLINK, it is also committed to the long-term stability of the platform even following the recent disruption.

Multi-Sig Wallet Breach and Unauthorized Minting

Cyvers, a blockchain security company, was the first to spot abnormal activity on UXLINK smart contracts. The hackers exploited a delegateCall vulnerability in order to acquire administrator privileges in the multi-sig wallet. This exploit enabled them to steal approximately $11.3 million, comprising 4.5 million in stablecoins, ETH, and WBTC.

🚨ALERT🚨Our system has detected $11.3M in suspicious transactions involving @UXLINKofficial

An ETH address executed a delegateCall, removed the admin role, and called "addOwnerWithThreshold" before transferring $4M $USDT, $500K $USDC, 3.7 $WBTC, and 25 $ETH.
All USDC/USDT were… pic.twitter.com/fkHwygOHkD

— 🚨 Cyvers Alerts 🚨 (@CyversAlerts) September 22, 2025

The hackers minted one to two billion UXLINK tokens on Arbitrum. They sold 490 million tokens across decentralized exchanges and bridged proceeds to Ethereum, gaining about 6,732 ETH, equivalent to $28.1 million. The attack caused the token price to drop from $0.30 to near $0.09. This wiped out roughly $70 million in market capitalization.

Exchanges, such as Upbit, were able to freeze deposits as fast as possible, minimizing further losses. Less than an hour after Cyvers gave the alert, UXLINK posted an urgent security notice. The warning informed the users that there was illegal activity and that many tokens were transferred illegally between networks.

The team is still researching the exploit and tracking transactions to curb further unauthorized access. PeckShield is also helping with auditing in order to check that there are no other vulnerabilities.

UXLINK Prepares Token Swap Amid Hacker Fallout

The breach challenges UXLINK’s growth narrative, just months after the platform celebrated its third anniversary. The project has recently recorded an excess of 55 million registered users around the world and has kept growing in more than 100 countries.

Surprisingly, a phishing scam cost the hacker $48 million in UXLINK tokens. This strange hacker-on-hacker incident serves as evidence of the ongoing dangers in the crypto ecosystem. Phishing attacks are quite a popular threat even to experienced cybercriminals, as stolen money is often their target. The incident shows flaws in decentralized finance, as was the case previously with the Ronin Network hack.

Interestingly, the hacker who attacked $UXLINK was targeted by a phishing attack and lost 542M $UXLINK($48M).https://t.co/Cp9QNHPE8Xhttps://t.co/M8tbPYAdiq pic.twitter.com/PxadIIfkDi

— Lookonchain (@lookonchain) September 23, 2025