According to the report, an Ethereum address executed a delegateCall, removed the admin role, and called addOwnerWithThreshold before moving significant funds, including $4 million in USDT, $500,000 in USDC, 3.7 WBTC, and 25 ETH.
The activity included swapping all USDC and USDT to DAI on Ethereum, while USDT on Arbitrum was converted to ETH and bridged back to Ethereum. Another address shortly after received 10 million UXLINK, valued at around $3 million, and began swapping, though approximately $2.2 million remains unswapped and active.
UXLINK Hack Highlights Smart Contract Security Risks
The incident underscores the ongoing challenge of monitoring and securing complex token operations on blockchain networks. DelegateCall, a function in Ethereum smart contracts, allows one contract to execute code in another contract’s context. While powerful, it can be misused if access controls are compromised, as appears to be the case here. Transactions that remove admin roles or manipulate ownership thresholds can give attackers broad control, increasing the risk of large-scale fund movements.
🚨ALERT🚨Our system has detected $11.3M in suspicious transactions involving @UXLINKofficial
An ETH address executed a delegateCall, removed the admin role, and called “addOwnerWithThreshold” before transferring $4M $USDT, $500K $USDC, 3.7 $WBTC, and 25 $ETH.
All USDC/USDT were… pic.twitter.com/fkHwygOHkD— 🚨 Cyvers Alerts 🚨 (@CyversAlerts) September 22, 2025
The sequence of events suggests careful planning and technical knowledge. First, an Ethereum-based address gained control over the smart contract by altering its administrative structure. Then, funds in multiple tokens were moved and converted across networks to obscure their origin and destination. On Arbitrum, a Layer 2 solution for Ethereum, USDT was swapped to ETH and bridged back to the Ethereum mainnet.
The attack didn’t end with the $11M drain. Just hours later, the attacker minted 10 trillion uxlink tokens, theoretically worth over $800B. This indicates the wallets remain under their control, pointing to a full private key compromise, possibly through a software wallet or even… https://t.co/UfGwpoj1N1
— Charles Guillemet (@P3b7_) September 23, 2025
Real-world incidents like the 2022 Ronin Network hack. Here, attackers exploited similar smart contract vulnerabilities to steal $620 million. While this UXLINK case involves smaller sums, it reinforces the importance of monitoring. Also, auditing and securing smart contracts before large-scale exploitation occurs.
More About UXLINK’s Hack
In a surprising turn of events, a phishing attack targeted the hacker behind the $UXLINK heist. The attack drained a total of $542 million in $UXLINK and $48 million in other assets.
Hunter got haunted, lmao.
The $UXLINK hacker got hacked.
Phishing attack drained $542M $UXLINK $48M from him.
Even thieves can’t catch a break in crypto.
Crypto is literally GTA with wallets. pic.twitter.com/7p2o69d6E4
— Broke Doomer🔺 (@im_BrokeDoomer) September 23, 2025
This incident highlights the unpredictable risks even experienced actors face in the crypto ecosystem, where social engineering and phishing remain powerful tools for exploiting individuals, regardless of their prior control over large digital funds.
Disclaimer
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The post $11.3M UXLINK Transactions Flagged as Suspicious appeared first on Altcoin Buzz.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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