UXLINK Faces Security Breach; Plans Token Contract Migration

UXLINK suffered a security breach on September 22-23, 2025, involving unauthorized token minting and the loss of $11.3 million, causing a 70% price drop.

The breach highlights ongoing vulnerabilities in decentralized finance, affecting market confidence and prompting immediate token contract migration with major exchanges’ support.

UXLINK’s $11.3 Million Hack and Price Crash

UXLINK revealed an unauthorized issuance of millions of UXLINK tokens due to a security breach. The project was swiftly engaged with Centralized Exchanges (CEXs) to plan a token swap that aligns with the original whitepaper, securing broad support. Conversations with CEXs have assured full cooperation in recovering and freezing assets.

In response to this attack, UXLINK is migrating its token contract to eliminate future unauthorized issuance by setting a fixed token supply and removing the mint/burn function. Major CEXs, including OKX, have committed to facilitating the token contract migration and swap activities.

Community leaders, including security firm SlowMist, have assessed the hack as a sophisticated phishing scheme. Meanwhile, CEO Rolland committed transparency in the recovery process, assuring users of ongoing collaboration with seasoned security specialists and compensation initiatives. According to Rolland, CEO of UXLINK, “A hacking incident targeting our multi-signature wallet resulted in unauthorized UXLINK token issuance and asset loss. We are working with major CEXs and security partners on asset freezing, incident investigation, and a token swap plan to restore supply integrity.” The token price witnessed a significant downturn, hitting $0.094.

Regulatory Impact and Market Reactions

Did you know? Earlier, threats similar to the Ronin Bridge and Poly Network hacks also exploited multi-signature wallet designs, emphasizing an industry shift to develop more secure contracts after significant monetary losses.

As of the latest data, the UXLINK token’s price stands at $0.14, a substantial 53.20% decrease over the past 24 hours. CoinMarketCap reports a marked 1215.08% surge in trading volume, reflecting heightened market turbulence. The circulating supply is 479,713,462 tokens and the market cap stands at formatNumber(68682956, 2).

According to Coincu’s research team, this outlined breach may impact regulatory stances on token issuance and contract security. Future contract designs could see stringent requirements, boosting confidence in token integrity. Major exchanges are likely to implement heightened monitoring mechanisms to mitigate further phishing attempts.