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Uxlink: New hope after a millions of hack - that's how it goes!
Uxlink works on the recovery after a hack, plans token-swap and compensates for affected users. Current developments.
Uxlink: New hope after a millions of hack - that's how it goes!
The UxLink platform is currently navigating by the consequences of a hack in which millions of their tokens have been compromised. Loud Crypto News Work on the migration of the tokens and prepare measures to support the users concerned.
A new smart contract for the token swap has already been finalized and is about to provide. One of the details of the SWAP strategy includes that legally circulating UXLINK-TOKEN are exchanged in a ratio of 1: 1, while stolen or illegally issued tokens are excluded from this process.
Two-phase compensation plan
The protocol outlined a two-phase compensation plan. The first phase will benefit the users who had tokens affected during the hack. The second phase aims to replace losses from the regained assets.
The UXLINK incidents are also reported to the large cryptocurrency exchanges and the Digital Asset Exchange Association (DAXA). In order to better monitor the affected tokens and increase security, most stolen tokens have already been pulled out of circulation, but some are still in circulation and are kept in mind.
Cooperation and relaxation
The official swap platform is expected within the next five working days. However, it is emphasized that individual exchanges can track their own schedules for the token swap. The efforts to restore stolen funds continue to run, although the recent asset movements of the attacker have additional complications.
Furthermore, Uxlink cooperates closely with supervisory authorities in Singapore, Korea and Japan as well as with security experts to pursue the wallets connected to the hacker. All compensation measures are designed transparently during the token migration process in order to regain the trust of the users.