UXLINK Hack Comot $11M, Token Fall 70% for Multisig Attack

Published: 2025-09-23 22:57:45 |

For di 22nd September, di UXLINK hack con use one multisignature wallet wahala comot admin rights and comot about $11 million for USDT, USDC, WBTC, and ETH. Di attacker change di money reach DAI for Ethereum, exchange Arbitrum USDT to ETH, and carry di asset cross-chain. Next, about 1–2 billion UXLINK tokens dem mint for Arbitrum, and almost 490–542 million dem dump for DEX and CEX dem, wey make di token price sharply drop from $0.30 to $0.09—70% fall wey kill over $70 million market cap. Exchange like Upbit dem freeze $5–7 million suspicious deposits, but about 6,732 ETH (≈$28 million) still dey attacker wallet. For irony side, di hacker bcome victim to phising (Inferno Drainer) and loss about 542 million UXLINK (~$48 million). UXLINK don engage law enforcement and security firm dem, start token swap to regain trust, and warn people to avoid bogus tokens. Di UXLINK hack show say multisig get serious wahala and na high time to do proper smart contract audit plus stronger DeFi security framework.

Bearish

Di UXLINK hack cause one sharp 70% drop for UXLINK token price plus wipe out over $70 million for market cap, e show say bearish sentiment strong well well. Immediate forced selling of newly minted tokens and losing trust from users fit make UXLINK price dey pressure down short term. Meanwhile, even though token freeze and swap measures fit help small restore trust, di exposed multisig weakness and phishing wahala go still make investors wary till dem do thorough smart contract audit and security harden, we go keep bearish outlook.