Upbit, the biggest Korean alternate, has listed UXLINK solely hours after the web3 social media app reportedly suffered an $11 million assault.
Amidst investor issues, nevertheless, the alternate included security mechanisms to assist merchants make knowledgeable choices.
UXLINK Drops 70% Regardless of Upbit Itemizing
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As of this writing, the UXLINK token value is down nearly 70% to commerce for $0.09404, a bitter sentiment fueled by the current attack on the social media app.
Regardless of the incident, the biggest Korean alternate, Upbit, has listed UXLINK as a buying and selling warning token. The alternate revealed the transfer in an official X (Twitter) submit, articulating the designation discover.
“UXLINK Buying and selling Warning Designation Discover. UXLINK (UXLINK/KRW, UXLINK/BTC, UXLINK/USDT) has been designated as a buying and selling warning merchandise by DAXA member firms,” read the submit.
Based mostly on the submit, UXLINK will commerce in opposition to the Korean Received (KRW), Bitcoin (BTC), and Tether’s USDT stablecoin.
Digital Asset eXchange Affiliation (DAXA) has flagged all these buying and selling pairs with an funding warning.
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DAXA was established to advertise the sound growth of the digital asset business. It advocates for investor safety by making a clear and safe buying and selling atmosphere.
Notably, the designation of UXLINK as a cautionary funding asset aligns with stipulations within the Enforcement Decree of the Digital Asset Person Safety Act.
“The deposit service for UXLINK has already been suspended. Resumption of deposit companies might be introduced following procedures after the designation as a cautionary asset,” Upbit said in an announcement.
Why Upbit Resorted to UXLINK Cautionary Designation
Upbit ascribed the designation to the current hacking incident, including that the issuer of the UXLINK token didn’t disclose materials details about the asset correctly.
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“These points point out a number of deficiencies that would probably trigger consumer losses. Subsequently, Upbit is designating UXLINK as a cautionary funding asset for investor safety,” the alternate articulated.
The designation, which began on September 23, 12:00 KST, might proceed till round October 17, 2025, 23:59 KST. Nevertheless, this period is determined by assessment findings.
Within the meantime, and from this discover, UXLINK deposits won’t be mirrored in accounts. Any deposits made might be topic to return.
Elsewhere, UXLINK revealed ongoing efforts to trace the stolen tokens, highlighting collaboration with different exchanges.
“A big portion of the stolen property has already been frozen, and collaboration with exchanges stays sturdy,” UXLINK revealed.
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The social media platforms are reportedly additionally leveraging assist from the blockchain analytics software PeckShield to assist the continuing investigation and strengthen restoration efforts.
Nonetheless, it articulated that there are not any indicators of particular person consumer wallets focused by the assault. In opposition to this backdrop, it indicated plans to compensate and make all accounts affected by the assault complete.
For its half, PeckShield has cautioned customers in opposition to interacting with the UXLINK token, because the hacker has gained the mint role.
Reportedly, the unhealthy actor has already minted two billion UXLINK tokens on Arbitrum.
Customers are already decrying the elevated provide, which explains the drop in UXLINK value.