Hackers breached UXLink’s multisignature wallet to steal about $30 million in assets and mint 10 trillion UXLINK tokens, but later got nabbed in a phishing scam.
AI-powered Web3 social platform and infrastructure UXLink saw its crypto token collapse by over 90% after a malicious actor minted billions of unauthorized tokens.
On Tuesday, the project announced that it had identified a breach involving its multisignature wallet. The company said a significant amount of crypto was being illicitly transferred to centralized and decentralized exchanges (DEXs).
UXLink said it had reached out to exchanges to freeze suspicious deposits and reported the incident to law enforcement. In another update, the company confirmed some of the funds had been frozen with the help of exchanges.
