UXLINK Plunges 77% Following Multisig Wallet Security Breach

Following the hack that compromised millions in tokens, UXLINK is working on token migration and recovery measures to address the damage and restore user confidence.

165d ago

Fact Check

The evidence strongly corroborates the statement. Multiple sources, including UXLINK's official X (Twitter) account, confirm a significant security breach involving a multi-signature wallet. Furthermore, a credible source (crypto.news) explicitly states the token price 'dropped over 70% after exploit,' which aligns with the 77% figure mentioned in the statement.

Summary

UXLINK is moving forward with recovery efforts after a major hack led to the theft of millions of its tokens. The company is preparing for token migration and has announced recovery measures for affected users. This follows the September 2025 breach of its multi-signature wallet, which resulted in the loss of $11.3 million and further complications after the attacker fell victim to a phishing scam.

Terms & Concepts

Multisig Wallet: A cryptocurrency wallet requiring multiple private keys to authorize a transaction, enhancing security through distributed control.
Phishing Scam: A type of cyberattack where attackers impersonate legitimate entities to steal sensitive data or funds from victims.