UXLINK is advancing its response to the recent hack that affected millions of its tokens, moving forward with token migration and preparing recovery measures for impacted users.
According to the latest security update, the protocol has finalized a new smart contract for the token swap, which is now ready for deployment. Submissions of the migration plan and incident report have also been made to major exchanges and the Digital Asset eXchange Association (DAXA), representing crucial steps toward securing legitimate tokens and preventing further exploits.
UXLINK has confirmed that legally held tokens will be swapped on a 1:1 basis, while stolen or illegally issued tokens will not be eligible. Most of the stolen tokens have been suspended, though a portion remains in circulation and is under active monitoring.
An official on-chain swap portal is expected to launch within five working days, with individual exchanges following their own timelines based on internal and regulatory requirements.
Efforts to recover stolen funds are ongoing. Although recent movements by the attacker complicate full recovery, UXLINK is working closely with regulators in Singapore, Korea, and Japan, alongside top security experts, to track hacker-linked wallets and prevent further misuse.
UXLINK Hack Compensation Plans
The protocol has outlined a two-phase compensation strategy for affected users. The first phase focuses on supporting users whose tokens were impacted by the hack, ensuring legitimate holders can recover their assets during the migration.
The second phase is tied to ongoing recovery efforts and aims to compensate users for losses from any recovered assets traced to frozen or tracked hacked wallets. UXLINK emphasized that all compensation measures will be handled transparently, prioritizing community protection while the token migration proceeds.
