BlockchainAltcoins
|3 min ReadUXLINK hack drains over $11M after multisig key leak
Maya Chen
Senior Analyst
Published
Jan 16, 2026
Private keys lost, control seized
On Sept. 23, UXLINK was hit hard. A private key tied to its multisig wallet was exposed. The attacker used it to rewrite the rules. They added their own address, removed others, and lowered the signature threshold to one. That meant full control. With no resistance, the attacker minted new UXLINK tokens and dumped them for profit. The haul topped $11.3 million.
They didn’t stop at one mint. Tokens were issued five times. Three key addresses received the loot. Through swaps, transfers, and cross-chain moves, the stolen tokens turned into ETH and DAI, parked safely on Ethereum.
Tracing the stolen funds
Beosin’s security team tracked every major move. On Arbitrum, about 904,401 USDT was taken from a victim wallet. It was flipped into 215.71 ETH, then bridged to Ethereum.
On Ethereum, multiple addresses were drained. Losses included 25.27 ETH, over 5.56 million USDT, 3.7 WBTC, and 500,000 USDC. Most of it was consolidated into DAI. One holding address now shows 240.99 ETH, 6.07 million DAI, and 3.7 WBTC.
The flow between Ethereum and Arbitrum tells the full story. Assets shifted fast, but none have left attacker wallets.
What comes next
Beosin Trace has blacklisted the attacker’s addresses. Monitoring continues. The stolen funds remain untouched, spread across several wallets.
This is a brutal reminder. Private keys are the single point of truth in crypto. Lose them and you lose everything. Hacks like this don’t just hit projects. They shake confidence across the market. Stay sharp. Watch your keys. Because when the next leak happens, millions can vanish in minutes.
Disclaimer: This document is intended for informational and entertainment purposes only. The views expressed in this document are not, and should not be taken as, investment advice or recommendations. Recipients should do their own due diligence, taking into account their specific financial circumstances, investment objectives and risk tolerance, which are not considered here, before investing. This document is not an offer, or the solicitation of an offer, to buy or sell any of the assets mentioned.