Market capitalization of 300 million USD star project UXLINK coin price is approaching drop to zero, hackers crazily printed 100 trillion Tokens.

The crypto assets market has once again witnessed a thrilling security disaster. The Web3 social platform UXLINK suffered an unprecedented hacker attack, resulting in not only the theft of funds but also the crazy minting of tokens due to hackers gaining administrative privileges, causing the coin price to fall from $0.3 to nearly zero, with market capitalization evaporating by more than 99%. This incident has once again sounded the alarm for the security of crypto assets and has triggered profound doubts about the so-called “immutable” blockchain technology.

Star Project Instant Collapse: UXLINK Security Vulnerability Incident Overview

(Source: Trading View)

UXLINK, as a highly regarded Web3 social platform and infrastructure project, has attracted the attention of well-known institutions such as Animoca and OCBC Bank. Last year, it raised as much as 15 million USD in private funding and successfully listed on mainstream exchanges. Before the crisis broke out, its Token price stabilized around 0.3 USD, with a market capitalization of about 300 million USD, and it is regarded as one of the star projects in the crypto field.

However, on September 22, 2025, everything came to a halt. Blockchain security company Cyvers Alerts was the first to raise the alarm, detecting unusual transactions totaling approximately $11.3 million in the UXLINK project. This attack caused the Token price to fall sharply from $0.3 to around $0.07 in a short period.

“The initial funding being stolen was already serious enough, but the real disaster is yet to come,” said a crypto security expert. “The hackers gained admin privileges and started an unprecedented token minting frenzy.”

On September 23, the UXLINK price is temporarily reported at 0.1081 USD, with a slight decline in price, but the bears are clearly still present.

Hacker's “Genesis”: The Crazy Minting of 100 Trillion Tokens

After gaining administrative privileges, the hacker launched a true “Genesis” operation—minting an astonishing 100 trillion UXLINK tokens on their own. This figure far exceeds the originally planned total supply of 1 billion, directly causing the token price to plummet to $0.000000017, nearly reaching zero.

“This is equivalent to a country's central bank suddenly deciding to print 1000 times more money,” crypto analyst Michael Chen explained. “Any asset facing such a huge supply inflation would collapse, and UXLINK is no exception.”

It is worth noting that UXLINK officials responded quickly after the initial attack, collaborating with major exchanges to successfully freeze most of the stolen assets. However, these measures could not prevent the hackers from continuing to mint tokens using the acquired administrative privileges.

Speculation in Crisis: Risks and Opportunities Coexist

Surprisingly, a group of bold speculators emerged during this disaster. When the coin price fell to nearly zero, some highly risk-tolerant traders flooded into the market, betting on a potential rebound.

“Some people made a hundredfold return in this chaos,” revealed an anonymous trader. “When the Token price rebounded from $0.000000017, the market eliminated at least three zeros, creating huge opportunities for those who dared to take risks.”

However, this type of “blood on the blade” speculative behavior is extremely dangerous. As one participant said: “I made a quick double and ran away, because hackers can generate tokens to crash the market at any time.”

Crypto assets analyst Sarah Wong warned: “Speculating in this situation is like dancing on the edge of a volcano. Hackers may just be busy laundering money, temporarily neglecting the market, but they could strike again at any time.”

The Myth of Security: The Illusion of “Immutability”

The biggest insight from the UXLINK incident may be that it reveals the limitations of the “immutability” feature of Crypto Assets. When admin privileges are compromised, the immutability of the Blockchain becomes meaningless.

“This incident reveals that administrator privileges can indeed do as they please. The so-called immutability of crypto assets is often just a gimmick,” pointed out a blockchain security expert. “Many projects still retain a highly centralized authority structure in their design, which goes against the decentralized philosophy of blockchain.”

This event has sparked widespread discussion in the crypto community about the security of smart contracts. In particular, it relates to the setting of administrator permissions, the implementation of multi-signature mechanisms, and the importance of code audits.

“We have seen too many projects retain backdoors or administrator privileges for development efficiency,” said David Lee, CEO of the blockchain security company BlockGuard. “These privileges can become fatal weaknesses when under attack, like installing a self-destruct button on the entire system.”

Industry Reflection: Security Challenges of Crypto Projects

The UXLINK incident is not an isolated case. Since 2025, the Crypto Assets industry has experienced multiple significant security incidents, with total losses exceeding $1 billion. These incidents include various forms such as smart contract vulnerabilities, cross-chain bridge attacks, flash loan attacks, and private key leaks.

“The cryptocurrency industry is facing growing pains,” said Jennifer Liu, an analyst at the cryptocurrency research firm Messari. “As the scale of funding expands and the technology becomes more complex, security challenges are also continuously upgrading.”

Security experts recommend that project teams and investors take the following measures:

Multisignature mechanism: Key operations require multiple authorizations to avoid single point of failure.

Permission levels: Strictly limit administrator permissions and implement the principle of least privilege.

Regular Security Audits: Code audits and vulnerability scans conducted by professional third parties.

Transparency: Public permission structure and security measures, subject to community oversight.

Emergency Plan: Develop a detailed incident response plan for security events.

The Future of UXLINK: The Road to Reconstruction is Long

For UXLINK, this event is undoubtedly a severe test. The project team needs to face not only the technical repairs but also the rebuilding of community trust.

“In the field of Crypto Assets, once trust is broken, it is exceptionally difficult to rebuild,” said crypto consultant Michael Zhang. “UXLINK needs to completely restructure its security architecture and adopt unprecedented transparency measures to have any chance of turning the situation around.”

Currently, UXLINK has not officially announced detailed reconstruction plans. Industry insiders generally believe that the project may need to consider token reset, smart contract rewriting, and a comprehensive reform of the governance structure.

“This is a painful but necessary lesson,” said an anonymous investor. “I hope UXLINK and the entire industry can learn from this and build a more secure and truly decentralized system.”

Investor Alert: Cryptocurrency Risks Ringing Alarm Again

The UXLINK event once again reminds investors that there are significant risks in Crypto Assets investment, and even “star projects” endorsed by well-known institutions are no exception.

“Investors should not be misled by glossy financing news and institutional endorsements,” warned financial advisor Robert Chen. “In the crypto space, technical risks, security risks, and regulatory risks are far greater than in traditional financial markets.”

For ordinary investors, experts recommend:

Diversified investment: Do not overly concentrate funds in a single project.

Understand the technology: Conduct in-depth research on the project's technical architecture and security measures before investing.

Governance Focus: Assess the project's authority structure and decision-making mechanism

Stay vigilant: Be skeptical of promises of abnormally high returns.

Be prepared for the worst: only invest funds that you can afford to lose completely.

As the UXLINK incident continues to develop, the cryptocurrency community will closely monitor the subsequent actions of the project parties and the potential responses from regulatory authorities. Regardless of the outcome, this incident will become an important case in the history of crypto asset security, reminding people not to forget the basic principles of safety while pursuing innovation.

Further Reading：UXLINK Multisignature Wallet Attacked: Token Big Dump 77%, Hacker Cashes Out Nearly 30 Million USD