The post Web3 Social App Hack Wipes Off $70 Million From an Altcoin appeared on BitcoinEthereumNews.com. UXLINK’s token value is cratering after Cyvers reported a suspected $11.3 million hack. Hackers apparently stole UXLINK tokens worth $3 million alongside a host of other assets. The platform confirmed that the breach occurred on their multi-signature wallet and hackers are transferring the funds to multiple CEX and DEXs. Major UXLINK Hack UXLINK is an ambitious project, aiming to create a new AI-powered social infrastructure for Web3 ecosystems. Since its launch in 2023, it gained a lot of notoriety, but a recent hack may cause real problems. Sponsored Sponsored Cyvers reported a major suspected hack at UXLINK involving $11.3 million in suspicious transactions. Essentially, one address used delegateCall to remove the admin role, adding a new multisig owner with addOwnerWithThreshold. This enabled nefarious actors to start draining assets. Urgent Security Notice We have identified a security breach involving our multi-signature wallet, resulting in a significant amount of cryptocurrency being illicitly transferred to both CEXs and DEXs. Our team is working around the clock with both internal and external security… — UXLINK (@UXLINKofficial) September 22, 2025 Apparently, this hack led to a total of $11.3 million in assets drained from UXLINK. $4 million was in USDT tokens, and other stolen assets include USDC, WBTC, and ETH. One wallet also received UXLINK tokens worth around $3 million, and immediately began selling around $800,000 worth. A Crisis in Confidence? After the hack, this rapid sell-off led to a 1700%+ increase in transaction volume for the UXLINK token. Between the actual criminals and ambient panic selling in the market, this token’s value rapidly collapsed. The token lost more than $70 million in market cap over the past hour. UXLINK Price Performance. Source: CoinGecko It’s unclear what percentage of the firm’s total assets were involved in this security breach, but that’s not the biggest concern.… The post Web3 Social App Hack Wipes Off $70 Million From an Altcoin appeared on BitcoinEthereumNews.com. UXLINK’s token value is cratering after Cyvers reported a suspected $11.3 million hack. Hackers apparently stole UXLINK tokens worth $3 million alongside a host of other assets. The platform confirmed that the breach occurred on their multi-signature wallet and hackers are transferring the funds to multiple CEX and DEXs. Major UXLINK Hack UXLINK is an ambitious project, aiming to create a new AI-powered social infrastructure for Web3 ecosystems. Since its launch in 2023, it gained a lot of notoriety, but a recent hack may cause real problems. Sponsored Sponsored Cyvers reported a major suspected hack at UXLINK involving $11.3 million in suspicious transactions. Essentially, one address used delegateCall to remove the admin role, adding a new multisig owner with addOwnerWithThreshold. This enabled nefarious actors to start draining assets. Urgent Security Notice We have identified a security breach involving our multi-signature wallet, resulting in a significant amount of cryptocurrency being illicitly transferred to both CEXs and DEXs. Our team is working around the clock with both internal and external security… — UXLINK (@UXLINKofficial) September 22, 2025 Apparently, this hack led to a total of $11.3 million in assets drained from UXLINK. $4 million was in USDT tokens, and other stolen assets include USDC, WBTC, and ETH. One wallet also received UXLINK tokens worth around $3 million, and immediately began selling around $800,000 worth. A Crisis in Confidence? After the hack, this rapid sell-off led to a 1700%+ increase in transaction volume for the UXLINK token. Between the actual criminals and ambient panic selling in the market, this token’s value rapidly collapsed. The token lost more than $70 million in market cap over the past hour. UXLINK Price Performance. Source: CoinGecko It’s unclear what percentage of the firm’s total assets were involved in this security breach, but that’s not the biggest concern.…