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UXLink Hacker Tries to Trade Stolen ETH Like a Pro — Ends Up Losing Most of It
Yahoo Finance· 2026-03-21 12:07
Core Insights - The hacker behind the UXLink breach has demonstrated poor trading skills despite stealing tens of millions in cryptocurrency [1][4] - The exploiter has engaged in high-risk trading activities over the past six months, primarily involving ETH and stablecoins, but has only recently managed to return to breakeven [2][9] Summary by Sections Breach and Initial Exploit - The UXLink exploit occurred in September 2025, where a smart contract vulnerability allowed the hacker to drain approximately $11.3 million in assets, including $4 million in USDT and $3.7 million in wrapped Bitcoin [10][11] - The hacker also minted billions of UXLINK tokens, generating an additional $28 million in ETH, leading to a total haul of between $30 million and $40 million [11] Trading Activity - The exploiter has conducted nearly 625 individual transactions, frequently swapping between ETH and DAI on decentralized exchanges [2][3] - The trading strategy involved buying into dips and holding through volatility, often exiting positions only when prices approached breakeven [5][4] Financial Performance - Despite the extensive trading activity, the exploiter has not achieved sustained gains beyond the original stolen funds, with the wallet at times showing losses of up to $4 million [8][9] - The trading results have been characterized by repeated losses, with the exploiter only recently managing to stabilize their position [1][4]