- The UPCX platform is known to have been exploited by hackers.
- The case saw an attacker moving more than $ 70 million of UPC tokens to the hacker’s wallet.
- UPCX recognizes and investigates this case.
UPCX, a distributed payment network, is watching the Aboriginal token UPC worth $ 70 million in the hacker’s hand.
Cyvers Alerts, a blockchain security company, emphasized the April 1 attack.
According to CYVERS Alerts, the unauthorized actor drained UPCX after accessing an important address within the UPCX ecosystem.
The attacker has upgraded the ‘Proxyadmin’ contract before running the raid by performing the ‘EmplyByadmin’ function.
Alert Systemour System has detected a variety of suspicious transactions. @upcxofficial
Someone appears to have access to 0x4c. pic.twitter.com/ytcmwpnte1
-TS cyber warning 🚨 (@cyversalerts) April 1, 2025
This allowed the attacker to transfer 18.8 million UPC tokens from three separate management accounts of about $ 70 million.
According to CYVERS, the hacker has moved the stolen funds to a new address.
There was no swap or more movement at the time of writing.
After the attack, the UPCX team admitted a violation and issued a statement about X.
“UPCX has confirmed unauthorized activities related to management accounts. As a preventive measure, we are taking immediate measures to ensure platform security.”
As the team actively investigates this problem, it includes deposits and withdrawals that pause deposits.
UPC token
The UPCX token UPC has dropped sharply in the news, and Coingecko’s data shows 5% diving from about $ 4.02 to $ 3.77.
However, as UPCX guarantees that all user funds are safe in the community, the downward reaction was not as bad as it could be afraid.
According to more information about Coingecko, UPC Price reached a record up to $ 5.27 on March 24, 2025.
As the investigation of the UPCX Exploite continues, this event completely reminds the problems faced by the blockchain and the defects.
Platforms such as UPCX aim to revolutionize payment and financial services through decentralization, but continuous threats of hacking and abuse remain an important barrier to adoption of alcohol.
At present, the stolen UPC token’s $ 70 million is left on the edge when the encryption community is waiting for more development because it does not reach the attacker’s address.