The post BREAKING: Hacking Claims Surround a Major Exchange-Listed Altcoin – Experienced a Significant Drop appeared on BitcoinEthereumNews.com. According to breaking news, blockchain security platform Cyvers Alerts announced that it detected a total of $11.3 million in suspicious transactions linked to UXLINK. According to the report, an Ethereum address removed its administrator role by executing a delegateCall operation, then calling the “addOwnerWithThreshold” function. This address then transferred approximately 4 million USDT, 500,000 USDC, 3.7 WBTC, and 25 ETH. All USDC and USDT holdings were converted to DAI on the Ethereum network, while USDT on Arbitrum was converted to ETH and bridged to the Ethereum network. Chart showing the decline in UXLINK price. A few minutes later, a different address reportedly received around 10 million UXLINK tokens (approximately $3 million) and began swapping, but $2.2 million in assets still remain unswapped. Cyvers stated that the operations are still ongoing and warned the community to be careful. UPDATE UXLINK provided the following update on the matter: Urgent Security Notification. We have detected a security breach in our multi-signature wallet. As a result of this breach, a significant amount of cryptocurrency was illicitly transferred to both centralized cryptocurrency exchanges (CEX) and decentralized cryptocurrency exchanges (DEX). Our team is working around the clock with internal and external security experts to identify the root cause of the issue and bring the situation under control. We have reached out to major CEXs and DEXs to immediately freeze suspicious UXLINK deposits and are working closely with them to prevent further movement of funds. The incident has been reported to the police and relevant authorities to expedite legal action and recovery efforts. We are fully committed to transparency and will continue to provide timely updates to the community as new developments emerge. *This is not investment advice. Follow our Telegram and Twitter account now for exclusive news, analytics and on-chain data! Source: https://en.bitcoinsistemi.com/breaking-hacking-claims-surround-a-major-exchange-listed-altcoin-experienced-a-significant-drop/The post BREAKING: Hacking Claims Surround a Major Exchange-Listed Altcoin – Experienced a Significant Drop appeared on BitcoinEthereumNews.com. According to breaking news, blockchain security platform Cyvers Alerts announced that it detected a total of $11.3 million in suspicious transactions linked to UXLINK. According to the report, an Ethereum address removed its administrator role by executing a delegateCall operation, then calling the “addOwnerWithThreshold” function. This address then transferred approximately 4 million USDT, 500,000 USDC, 3.7 WBTC, and 25 ETH. All USDC and USDT holdings were converted to DAI on the Ethereum network, while USDT on Arbitrum was converted to ETH and bridged to the Ethereum network. Chart showing the decline in UXLINK price. A few minutes later, a different address reportedly received around 10 million UXLINK tokens (approximately $3 million) and began swapping, but $2.2 million in assets still remain unswapped. Cyvers stated that the operations are still ongoing and warned the community to be careful. UPDATE UXLINK provided the following update on the matter: Urgent Security Notification. We have detected a security breach in our multi-signature wallet. As a result of this breach, a significant amount of cryptocurrency was illicitly transferred to both centralized cryptocurrency exchanges (CEX) and decentralized cryptocurrency exchanges (DEX). Our team is working around the clock with internal and external security experts to identify the root cause of the issue and bring the situation under control. We have reached out to major CEXs and DEXs to immediately freeze suspicious UXLINK deposits and are working closely with them to prevent further movement of funds. The incident has been reported to the police and relevant authorities to expedite legal action and recovery efforts. We are fully committed to transparency and will continue to provide timely updates to the community as new developments emerge. *This is not investment advice. Follow our Telegram and Twitter account now for exclusive news, analytics and on-chain data! Source: https://en.bitcoinsistemi.com/breaking-hacking-claims-surround-a-major-exchange-listed-altcoin-experienced-a-significant-drop/