The post UXLINK Hacked: Over $11 Million Stolen, Token Price Crash by 70% appeared first on Coinpedia Fintech News
The Web3 social infrastructure project UXLINK fell victim to a massive hack on September 22, 2025. Hackers managed to drain over $11.3 million worth of assets, including stablecoins, ETH, WBTC, and millions of UXLINK tokens, by targeting its multi-signature wallet.
The news sparked panic across the community, crashing the UXLINK token value by more than 70%.
How the UXLINK Hack Happened
Blockchain security firms revealed that hackers gained access to UXLINK’s multi-signature admin wallet by exploiting a “delegateCall” vulnerability. This allowed the attackers to remove current administrators and install their own address as the new owner, seizing full control of the wallet.
They quickly drained $11.3 million in assets, including around $4.5 million in stablecoins and sizable chunks of ETH and WBTC, while stealing 490 million native UXLINK tokens.
Shockingly, the exploit also enabled the hackers to mint approximately 2 billion new UXLINK tokens, which they rapidly sold across various exchanges.
The attacker wasted no time in cashing out. Through six different wallets, they transferred a substantial portion of the stolen tokens across decentralized exchanges (DEXes), converting them into 6,732 ETH, worth approximately $28.1 million.
Who Did It? The “Inferno Drainer” Group
While the direct identity of the original hacker remains unknown, on-chain analysts Odaily revealed an ironic twist, after transferring the stolen tokens, the hacker themselves fell victim to a phishing scam by the notorious Inferno Drainer group.
This resulted in the hacker losing over 542 million UXLINK tokens to another set of malicious actors, highlighting the hazards the DeFi landscape poses to all participants, including thieves.
UXLINK’s Quick Response
Within an hour of detecting the breach, UXLINK issued urgent security alerts and immediately began working with major centralized (CEX) and decentralized exchanges (DEX) to freeze suspicious deposits.
The project confirmed that law enforcement and regulators were notified and that blockchain forensics firms, including PeckShield, were engaged for fund tracing and auditing.
While most of the hacker’s funds were quickly frozen by exchanges, the ongoing unauthorized minting has compelled UXLINK to announce an emergency token swap initiative.
UXLINK Token Crashed 70%
The illicit token sales, paired with panic dumps from the broader community, caused UXLINK’s token price to drop from $0.30 to as low as $0.09, erasing nearly $70 million in market capitalization in hours.