UXLINK Announces Token Migration and Security Upgrade Plan

UXLINK, which recently suffered a hacking incident, disclosed the progress of token migration and security upgrades.

On the 26th, UXLINK said on X (formerly Twitter), "We have completed security solution upgrades approved by a third-party security advisory team," and "Starting next week, we will carry out a phased token migration for exchanges and on-chain users."

Earlier on the 22nd, UXLINK experienced a security incident related to a multisignature wallet, and circumstances were reported that a significant amount of virtual assets (cryptocurrencies) had been transferred to exchanges.

UXLINK said it plans to carry out compensation procedures in stages because regulations and operating procedures differ by exchange (CEX). It has already completed the new token issuance process, and amounts for exchanges where the swap has not been completed will remain locked until the migration time. For on-chain users, UXLINK will cover gas fees to support the migration.

UXLINK also said it will pay staking participants all tokens and annual percentage yield (APY) accrued up to October 31. Token distribution and vesting (vesting) schedules will remain the same as the existing whitepaper. In addition, the new UXLINK smart contract will include a function that locks the maximum supply at the code level.

UXLINK said, "We will continue transparent and prompt communication with the community and partners."