UXLINK Releases Security Incident Update: New Contract Deployment and 1:1 Token Swap Announced

UXLINK has issued a major security event update following a $11.3 million hack on September 22, 2025, detailing upgrades to its security solutions and plans for token migration starting next week. The project, a Web3 social infrastructure, aims to restore user confidence by deploying a new smart contract on the Ethereum mainnet with a total supply of 10 billion tokens, allowing a 1:1 exchange for old UXLINK tokens. With the removal of minting and burning functions to prevent future vulnerabilities, this move addresses the multi-sig wallet breach that exposed administrator privileges. As UXLINK navigates recovery in 2025's volatile crypto market, this update could stabilize the token amid broader ecosystem challenges.

UXLINK Security Incident: Details of the Hack

On September 22, 2025, UXLINK suffered a catastrophic security breach where hackers exploited weaknesses in its multi-sig wallet, gaining administrator access and stealing over $11.3 million. Blockchain security firm CyversAlerts detected the incident, noting suspicious transactions involving the compromised wallet. The attack led to a token price plunge of over 70%, highlighting vulnerabilities in multi-signature setups. This event underscores the risks in Web3 projects, particularly those relying on social infrastructure for user engagement. The hack's scale has drawn community scrutiny, but UXLINK's prompt response aims to mitigate long-term damage.

• Hack value: Over $11.3 million stolen from multi-sig wallet.
• Detection: CyversAlerts identified suspicious activity.
• Price impact: Token value dropped more than 70% post-incident.
• Vulnerability: Weaknesses in multi-sig setup allowed admin access.
• Community reaction: Increased calls for enhanced security measures.

Security Update and Upgrade Measures

UXLINK's latest update confirms that its security solutions have been upgraded and approved by third-party auditors, marking a critical step in recovery. The team has completed the new token generation process and submitted an incident report to DAXA (Digital Asset Exchange Alliance) and major exchanges. To prevent similar attacks, minting and burning functions will be removed from the new contract. This overhaul demonstrates UXLINK's commitment to robust security, essential for rebuilding trust in a sector plagued by exploits.

• Upgrade approval: Third-party security advisors confirmed the enhancements.
• Report submission: Incident details shared with DAXA and exchanges.
• Function removal: No more minting or burning to eliminate risks.
• Process completion: New token generation ready for deployment.
• Trust rebuilding: Focus on transparency post-hack.

Token Migration Plan: CEX and On-Chain Details

Migration for centralized exchanges (CEX) is slated to begin next week, with on-chain user migrations following shortly after. UXLINK will cover gas fees for on-chain migrations, easing the process for users. For those who haven't completed KYC, self-managed on-chain migrations are available, though they must bear their own gas costs. The new contract on Ethereum mainnet will maintain a 10 billion token supply, ensuring a seamless 1:1 swap for legitimate circulating UXLINK tokens. This structured approach aims to minimize disruption and protect user assets during the transition.

• CEX migration: Starts next week with platform support.
• On-chain migration: UXLINK covers gas fees for eligible users.
• KYC note: Non-KYC users handle their own gas costs.
• New contract: Deployed on Ethereum with 10 billion total supply.
• Swap ratio: 1:1 exchange for old to new tokens.

Implications for UXLINK and the Web3 Ecosystem

The security incident and subsequent update highlight the ongoing challenges in Web3 social infrastructure, where rapid growth often exposes vulnerabilities. UXLINK's proactive measures, including auditor approvals and function removals, could serve as a model for other projects facing similar issues. In the broader 2025 crypto landscape, this event emphasizes the need for multi-sig best practices and third-party audits to safeguard user funds. As UXLINK recovers, its focus on secure, user-friendly social features may regain community support, potentially stabilizing the token price.

• Ecosystem lesson: Importance of robust multi-sig and audits.
• Recovery potential: Transparent updates to rebuild trust.
• Market context: Amid rising Web3 hacks in 2025.
• Future outlook: Enhanced security for sustainable growth.
• User advice: Verify official channels for migration details.

UXLINK's security update and migration plan signal a path to recovery after a major hack, with new contract features aimed at preventing future breaches. As the project implements 1:1 token swaps, users should stay vigilant on official platforms. For those monitoring Web3 incidents, explore compliant exchanges with transparency to track UXLINK developments securely—position for potential rebounds in this evolving social infrastructure space.