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UXLINK: The first batch of Token exchanges in CEX is expected to be completed within 1-5 business days.
According to Deep Tide TechFlow news, on September 25, UXLINK officials disclosed that the project has released a contract migration plan to deploy a new contract on the Ethereum Mainnet, with the total token supply remaining unchanged at 1 billion, redeeming at a ratio of 1:1 with the old contract. The new contract eliminates the minting and burning function and will maintain cross-chain characteristics through cross-chain partner services.
The migration plan is divided into two parts: centralized exchanges will calculate the total amount of UXLINK in the platform, and after deducting the tokens deposited by hacker addresses, they will obtain new tokens, with the first batch of exchanges expected to be completed within 1-5 working days; on-chain users can obtain a 1:1 redemption qualification through a snapshot mechanism, and the redemption tool is expected to be launched within 5 working days.
UXLINK indicates that most of the stolen unlocked Tokens have been suspended, and the team is actively recovering the assets sold by hackers through decentralized exchanges, cross-chain bridges, and centralized exchanges. Compensation plans for the community, including buyback programs and staking rewards, will be provided based on the recovery progress.