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Gate Square New & Returning Creator Rewards are ongoing!
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Details: https://www.gate.com/announcements/article/48693
#UXLINK Hack and Token Minting: Hackers exploited a vulnerability in the UXLINK platform's multi-signature wallet. This allowed them to seize control and maliciously mint up to 2 billion new UXLINK tokens. This massive, unauthorized increase in supply immediately diluted the value of existing tokens.
Massive Sell-Off: The attackers also stole tens of millions of dollars in crypto assets, including ETH, USDT, USDC, and wrapped Bitcoin (WBTC), and then quickly dumped these stolen funds on exchanges. In addition, they sold off approximately $800,000 worth of UXLINK tokens, which triggered a wave of panic selling among other investors
Massive Price Drop: The UXLINK token price plummeted by over 77% in a very short period, wiping out a significant portion of its market value.
Loss of Funds: The hackers stole an estimated $11.3 million in crypto assets, including ETH, stablecoins, and UXLINK tokens.