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UNIX 100 Global loses $4.85m in USDT as attackers seize two Senate seats
Attackers reportedly took control of two of X 100 Global's three governance seats through a flash loan and drained its treasury, sending its X token down more than 96%.
Why it matters: The attack shows how a small governance structure without voting delays can be bought outright, letting an outsider drain a treasury and wipe out a token's liquidity.
Key points
- Blockaid traced about $4.85m in USDT proceeds and roughly 550,000 X tokens taken in three transactions.
- Exvul says attackers borrowed about 1.94m USDT via an Aave flash loan to buy X tokens and win two Senate seats.
- The X token fell from the $50-60 range to about $1.75, with Uniswap liquidity all but gone.
According to security firm Exvul, the attackers borrowed about 1.94m USDT through an Aave flash loan, bought X tokens and used helper contracts to occupy two of the project's three Senate seats. Governance had no voting snapshots, minimum holding periods or execution delays, so the new majority could approve malicious proposals and execute them almost at once.
Blockaid and Exvul identified roughly $4.85m in USDT proceeds and about 550,000 X tokens taken across three transactions, with further operations aimed at Uniswap V3 positions.
The X token dropped from the $50-60 range to about $1.75, and some liquidity measures on decentralised exchanges fell to a few dollars. X 100 Global had not acknowledged the breach or issued a statement at the time of writing.
What to watch: X 100 Global had not acknowledged the breach or issued a statement when the article was published, and the incident was described as ongoing.
Live updates on NewsFeeds:RegulationDesk editor: Keshav Aggarwal (accountable for this page; this summary was not edited by hand)
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Not investment advice. Read the risk disclaimer.