UXLINK experienced a severe security breach in its multi-signature wallet, leading to unauthorized token minting and the illicit transfer of a 'significant amount' of crypto assets (estimated at $11.3 million) to both centralized and decentralized exchanges. The attack triggered an immediate 77% crash in UXLINK’s native token price—plummeting from $0.3 to $0.072—before a partial rebound. While the team froze a large portion of stolen assets and collaborated with exchanges (e.g., PeckShield) to mitigate damage, the incident forced emergency measures, including trading suspensions and a token swap plan. Authorities were notified, and users were warned against trading on DEXs to avoid losses from unauthorized tokens. The breach did not target individual user wallets, but the financial and reputational harm was substantial, with long-term trust erosion likely due to the exploit’s scale and the project’s reliance on third-party security interventions.
TPRM report: https://www.rankiteo.com/company/happy-fair-pte-ltd
"id": "hap1262412092325",
"linkid": "happy-fair-pte-ltd",
"type": "Breach",
"date": "9/2025",
"severity": "60",
"impact": "2",
"explanation": "Attack limited on finance or reputation"{'affected_entities': [{'customers_affected': 'community members (advised not '
'to trade on DEXs)',
'industry': 'blockchain/DeFi',
'name': 'UXLINK',
'type': 'cryptocurrency project'}],
'attack_vector': ['compromised multi-signature wallet',
'malicious token minting'],
'customer_advisories': 'Community warned about unauthorized tokens and '
'potential losses if trading continues on DEXs.',
'date_publicly_disclosed': '2023-11-20T00:00:00Z',
'description': "UXLINK's native token crashed by 77% following a security "
'breach in its multi-signature wallet, where a malicious actor '
"unauthorizedly minted tokens and transferred a 'significant "
"amount' of crypto assets to exchanges. The team is "
'collaborating with security experts (including PeckShield) '
'and law enforcement to investigate and recover assets. '
'Emergency measures include freezing stolen assets, suspending '
'trading on exchanges, and planning a token swap.',
'impact': {'brand_reputation_impact': 'high (community advisory issued to '
'avoid trading)',
'conversion_rate_impact': 'token value dropped from $0.3 to $0.072 '
'(77% crash), partially rebounded to '
'>$0.1',
'financial_loss': '$11.3 million (abnormal transactions flagged by '
'Cyvers Alerts)',
'operational_impact': ['trading suspension on major exchanges',
'token swap plan initiation'],
'systems_affected': ['multi-signature wallet',
'token minting system']},
'initial_access_broker': {'entry_point': 'multi-signature wallet compromise',
'high_value_targets': ['crypto assets',
'token minting privileges']},
'investigation_status': 'ongoing (collaboration with PeckShield and law '
'enforcement)',
'motivation': 'financial gain',
'post_incident_analysis': {'corrective_actions': ['token swap plan',
'enhanced wallet security '
'(implied)']},
'references': [{'source': 'CoinMarketCap',
'url': 'https://coinmarketcap.com/'},
{'source': 'Cyvers Alerts'},
{'source': 'UXLINK Official Announcement'}],
'regulatory_compliance': {'regulatory_notifications': ['reported to police '
'and relevant '
'authorities']},
'response': {'communication_strategy': ['public disclosure',
'community advisory against DEX '
'trading',
'updates on asset freezing progress'],
'containment_measures': ['freezing stolen assets',
'suspending trading on major exchanges'],
'incident_response_plan_activated': True,
'law_enforcement_notified': True,
'remediation_measures': ['token swap plan',
'collaboration with exchanges to track '
'assets'],
'third_party_assistance': ['PeckShield',
'other external security experts']},
'stakeholder_advisories': ['avoid trading UXLINK on DEXs to prevent losses'],
'title': 'UXLINK Multi-Signature Wallet Security Breach and Token Crash',
'type': ['cryptocurrency breach', 'unauthorized token minting', 'asset theft']}