UXLINK, a Web3 social platform project, has suffered a severe security breach that may have resulted in losses worth tens of millions of dollars. The incident triggered a collapse in the project’s token price, which plunged more than 70% in the aftermath.
In a post shared Monday on X, UXLINK confirmed that its multi-signature wallet had been compromised, leading to “a significant amount of cryptocurrency being illicitly transferred to both CEXs and DEXs.”
Urgent Security Notice
— UXLINK (@UXLINKofficial) September 22, 2025
We have identified a security breach involving our multi-signature wallet, resulting in a significant amount of cryptocurrency being illicitly transferred to both CEXs and DEXs.
Our team is working around the clock with both internal and external security…
How the Attack Unfolded
Blockchain security firm Cyvers Alerts flagged suspicious activity earlier in the day, noting that an Ethereum address executed a delegateCall to strip the original admin rights and add a new multisig owner. From there, the attacker allegedly siphoned at least $4 million in USDT, $500,000 in USDC, 3.7 WBTC, and 25 ETH.
🚨ALERT🚨Our system has detected $11.3M in suspicious transactions involving @UXLINKofficial
— 🚨 Cyvers Alerts 🚨 (@CyversAlerts) September 22, 2025
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
Further analysis by Lookonchain revealed that the hacker used six wallets to offload UXLINK tokens on decentralized exchanges, netting roughly 6,732 ETH—valued at about $28.1 million.
UXLINK was hacked!
— Lookonchain (@lookonchain) September 23, 2025
The hacker received 490M $UXLINK and also minted 2B $UXLINK.
The hacker has sold a massive $UXLINK on DEXes through six wallets, obtaining 6,732 $ETH ($28.1M).
He also sold a large amount of $UXLINK on CEXes.
Address:… pic.twitter.com/i2XFO7u4ZU
To make matters worse, on-chain data showed the attacker had minted an additional 10 trillion UXLINK tokens late Monday, further undermining the token’s value.
Price Collapse and Exchange Response
Following the exploit, the UXLINK token’s price nosedived over 70%, trading at $0.08912 as of late Monday, according to CoinGecko.
In response, UXLINK stated that major exchanges had frozen much of the attacker’s assets, helping reduce further risk to the community. The team also strongly urged users not to trade UXLINK on decentralized exchanges due to the circulation of unauthorized tokens.
“We have identified an unauthorized minting of UXLINK tokens today by a malicious actor,” the project said. “We strongly advise all community members not to trade UXLINK on DEXs at this time, in order to avoid potential losses caused by these unauthorized tokens.”
The project added that it is coordinating with centralized exchanges to temporarily halt UXLINK trading and is preparing a token swap plan to address the incident.
