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UXLINK Token Plunges 44% Following Suspected $11 Million Attack

UXLINK Token Plunges 44% Following Suspected $11 Million Attack

UXLINK loses $11.3 million following a multisignature wallet breach, leading to unauthorized minting of tokens and subsequent freezing of stolen assets across exchanges.

ETH

Summary

On September 23, 2025, UXLINK suffered an $11.3 million loss after attackers exploited a flaw in its multisignature wallet, reducing its signature threshold to one owner and draining assets. The stolen tokens were sold across various platforms, with many later frozen after exchange alerts. The hacker subsequently lost 542 million $UXLINK tokens in a phishing scam. The incident underscores weaknesses in UXLINK's multisig management.

Terms & Concepts
  • Multisignature Wallet: A wallet that requires multiple private keys to authorize a transaction, providing an additional layer of security.
  • InfernoDrainer: A type of phishing scam designed to steal assets from compromised wallets by tricking users into revealing their private keys or recovery phrases.
  • UXLINK: A digital token used within the UXLINK project, which focuses on decentralized applications and crypto assets management.