Web3 Social App UXLINK Suffers $11.3M Hack on Ethereum and Arbitrum
A multisignature wallet breach on September 23 led to a significant loss for UXLINK, with stolen funds later compromised in a phishing scam, exposing critical Web3 vulnerabilities.
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Fact Check
The statement is strongly confirmed by all provided evidence. Multiple independent sources, including crypto news outlets, on-chain security firms like Cyvers Alerts and Lookonchain, and data aggregators like CoinGecko, corroborate that the Web3 social app UXLINK suffered a hack resulting in a loss of approximately $11.3 million. The sources consistently mention that the funds were moved across the Ethereum and Arbitrum networks.
Summary
On September 23, 2025, UXLINK experienced a major security breach, where hackers exploited a multisignature wallet vulnerability to steal around $11.3 million. The stolen funds were transferred to centralized and decentralized exchanges, and later lost in an InfernoDrainer phishing scam. The incident highlights vulnerabilities in multisignature wallet setups and Web3 security practices.
Terms & Concepts
- Multisignature Wallet: A crypto wallet requiring multiple private keys to authorize transactions, enhancing security against single-point compromises.
- Phishing Scam: A type of cyberattack where attackers deceive individuals into providing sensitive information or making transactions, often leading to the theft of assets.