UXLINK Hack Update: Hacker Moves $6.8M in Stolen ETH - Crypto Security Under Microscope

Another day, another crypto heist—but this one's playing out in real-time across the blockchain.

Funds on the Move

The UXLINK attacker just executed a massive liquidation spree, converting stolen assets into $6.8 million worth of Ethereum. The digital trail shows funds flowing through decentralized exchanges faster than regulators can say 'security audit.'

Market Fallout

While the hack represents a fraction of total crypto market cap, it exposes the persistent vulnerabilities in Web3 infrastructure. The timing couldn't be worse—just as institutional adoption hits new peaks.

Security Wake-up Call

This isn't your grandma's bank robbery. The sophistication of cross-chain movements and instant liquidity conversion demonstrates how hackers stay miles ahead of compliance departments. Maybe next time we'll prioritize security over shiny new tokenomics.

As the blockchain breadcrumbs continue to unfold, one thing's clear: in crypto, the only thing harder than holding through volatility is holding onto your assets. But hey—at least the hacker paid gas fees.

How the UXLINK hack Happened

The UXLINK hack began on September 22 and continued for several hours into the following day. The Core of the attack involved an exploit of the project’s multi-signature wallet through a delegate call vulnerability. This security flaw gave the attacker administrator-level access, enabling unauthorized transfers and the ability to mint large amounts of fake tokens.

Within hours, the attacker minted nearly 10 trillion CRUXLINK tokens on the Arbitrum blockchain and swiftly liquidated part of these tokens for ETH, USDC, and other assets, draining liquidity and causing the token to crash by more than 70%.

The protocol responded immediately, alerting exchanges to freeze suspicious transactions and working with security firms to trace and mitigate further losses. However, these efforts did little to offset the damage already done.

UXLINK has since deployed emergency measures, including a token migration to a newly audited smart contract with a capped supply to prevent similar exploits. The audit focused on reinforcing security and tightening controls around multisig wallets and contract interactions.

The latest rounds of asset shuffling and conversions by the hacker complicate any hopes for full recovery of the stolen funds, and it remains to be seen whether additional movements will occur in the NEAR term.