X100 Exploit Drains About $4.85M in USDT
Blockaid reported an ongoing attack on X100, an Ethereum-based project, with two transactions taking about 4.85 million USDT by 22:49. One attacker gained control of two of X100’s three Senate governance seats and sold 400,000 X tokens into a liquidity pool they had created. A second attacker burned the Uniswap V3 liquidity position held by X100’s Freezer contract. Blockaid also shared suspected attacker addresses and example transactions. The X100 exploit puts the project’s treasury, liquidity and governance security in question, and could increase selling pressure on its token.
Bearish
The attack is bearish for X100’s token. The reported treasury sale, burned Uniswap V3 liquidity position and compromise of two governance seats raise immediate concerns about token supply, trading liquidity and the project’s ability to respond. Traders may sell or avoid X100 until the exploit is contained and the project clarifies the extent of the damage. In the short term, uncertainty and potentially thinner liquidity can amplify price swings. Over the longer term, price recovery would likely depend on the project securing its governance and contracts, addressing any losses, and restoring confidence. The summaries do not establish the final loss or whether the attack has ended, so the scale and duration of the market impact remain uncertain.