UXLINK Hacker Nets Massive Profits Despite Falling for Phishing Trap

Even cybercriminals aren't immune to digital pickpockets—proving nobody's safe in this wild west of crypto.

The Irony of Ill-Gotten Gains

UXLINK's security breach turned into a masterclass in crypto irony when the perpetrator themselves got scammed mid-heist. The hacker still walked away with staggering profits despite the phishing fumble—because in today's market, even failed criminals outperform traditional finance returns.

Security experts note the incident exposes deeper vulnerabilities in decentralized systems while highlighting the absurd profitability of crypto crimes. The attacker's portfolio somehow gained more from partial success than most legitimate investors see in years—which says everything about current market dynamics.

Wall Street bankers would need three mergers and a congressional bailout to match these returns. Maybe they should consider career changes.

UXLINK Thief Profits Despite New Hack

Yesterday’s $11 million UXLINK hack caused a large raucous in the crypto community, especially because the perpetrator was able to gain a mint role over the token. This allowed them to mint 2 billion new tokens on Arbitrum, significantly disrupting Upbit’s UXLINK listing.

However, the tables have apparently turned in a humorous fashion. One day after carrying out the UXLINK hack, the perpetrator fell victim to a phishing attack, losing $48 million in short order:

Interestingly, the hacker who attacked $UXLINK was targeted by a phishing attack and lost 542M $UXLINK($48M).https://t.co/Cp9QNHPE8Xhttps://t.co/M8tbPYAdiq pic.twitter.com/PxadIIfkDi

Indeed, the original perpetrator lost far more UXLINK tokens than they stole in the hack. This reflects the staggering extent of their minting spree, which was apparently the main source of profits.

For example, the hacker managed to launder at least $28.1 million into ETH before the phishing incident took place.

All things considered, this is a tidy profit, especially because the initial hack only yielded around $11 million in UXLINK and other tokens. Even if the phishing attack put an end to this minting spree, the perpetrator could still ostensibly consider this crime a success.

Resolving the Minting Chaos

Needless to say, this chaotic hack has been very taxing on the UXLINK team. According to a recent update, these crimes have undermined both “the UXLINK whitepaper and the community’s consensus.”

In response, developers are taking a few measures to stabilize the situation.

First, the team confirmed that previous plans for a token swap are going to happen. Several “major CEX partners” expressed their “full support” in conducting an unspecified token swap plan, which aims to re-stabilize the flailing UXLINK economy.

Security Notice – Update 4

We WOULD like to share the latest updates regarding the UXLINK token contract migration:

1. The ongoing unauthorized minting of UXLINK tokens has undermined both the UXLINK whitepaper and the community’s consensus.
2. We have engaged with major CEX…

UXLINK has also prepared a new smart contract to prevent another hack incident from causing this chaos. Moving forward, the token will have a fixed supply, preventing criminals from hijacking the mint functionality.

Developers requested a third-party security audit of this contract, and are preparing a comprehensive incident report of their own.

These measures have prevented further price collapse, but it’ll take a lot of effort to rebuild customer trust. UXLINK may have to change its entire token paradigm in the wake of this hack. The firm’s update notes that the mint-and-burn functions had real utility in cross-chain interactions.

Now, however, UXLINK’s new whitepaper will need to find another solution.