Social crypto platform UXLINK has announced plans for a token swap following a major security breach that compromised its token supply and drained millions in digital assets.
The project confirmed on September 23 that a hacker continues to mint UXLINK tokens without authorization after exploiting its multi-signature wallet, forcing the team to coordinate with major exchanges to suspend trading while recovery measures are put in place.
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
Details of the breach
Blockchain security firm Cyvers first flagged the exploit on September 22, identifying abnormal activity in UXLINK’s smart contracts. The hacker reportedly leveraged a “delegateCall” vulnerability, gaining administrator access to the project’s multi-sig wallet.
This led to the theft of approximately $11.3 million in assets, including $4.5 million worth of stablecoins alongside Ethereum (ETH) and Wrapped Bitcoin (WBTC).
In addition, the attacker minted between 1–2 billion UXLINK tokens on Arbitrum, with around 490 million tokens sold across decentralized exchanges. Proceeds were bridged to Ethereum and swapped into ETH, netting roughly 6,732 ETH ($28.1 million).
Also Read: Taiko Halts Bridge Operations After $1.7 Million Exploit
UXLINK’s response and next steps
While the exploit severely impacted the project’s token economy, UXLINK stressed that user wallets remain unaffected. Exchanges, including South Korea’s Upbit, have already frozen suspicious deposits linked to the attacker, with law enforcement now engaged in recovery efforts.
The team has also enlisted blockchain security firm PeckShield to conduct an audit and assist with investigations.
To stabilize the ecosystem, UXLINK will carry out a token swap, realigning the supply with its original whitepaper rules. Details and instructions for holders will be shared through official communication channels.
UXLINK assures the community of protection
UXLINK reaffirmed its commitment to safeguarding its 55 million users, promising transparency and swift action as it works to restore confidence and rebuild its token economy.
Notably, PeckShield revealed earlier this month that $163 million was stolen through hacks and exploits in August, a 15% increase from July’s $142 million. The losses were spread across roughly 16 incidents, with the majority concentrated in two large-scale breaches.
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