Web3 social platform UXLINK has suffered a security breach, in which a hacker took control of the project's multi-signature wallet.
The attacker removed the administrator role, minted trillions of unauthorized UXLINK tokens, and drained millions in stablecoins and ETH.
Analysts estimate that the total value stolen and illegally minted exceeds $30 million.
In response, the project has warned users not to trade UXLINK on decentralized exchanges, as the price of its token plummeted more than 70% following the news.