PANews reported on September 23rd that UXLINK released the latest progress on the UXLINK token contract migration: Currently, there is an unauthorized issuance of UXLINK tokens, which not only violates the content of the UXLINK white paper but also undermines community consensus. Communicating with major CEX partners regarding the planned token swap, they have all expressed their full support. A new smart contract has been submitted for security audit. This new contract will set a fixed token supply to ensure that no additional tokens will be issued. At the same time, the issuance-destruction function, commonly used in cross-chain solutions to protect community interests, has been canceled. It is also responding to inquiries from the Korea Digital Asset Exchange Association (DAXA) and will work with security expert partners to compile a comprehensive incident report.

Earlier today, UXLINK stated that its multi-signature wallet suffered a security breach and funds were illegally transferred.