uxlink

Following the Money: Attacker Consolidates Stolen Assets into Majors
A Look at the Strategy Behind Converting to Highly Liquid Crypto
Introduction
Recent on-chain monitoring by Lookonchain has brought attention to a specific wallet address linked to the UXLINK attacker (0x521...9309). This address has made substantial purchases of major cryptocurrencies, totaling over $5.4 million. The attacker recently acquired 702.5 ETH at an average price of $2,847, and 38.2 WBTC (Wrapped Bitcoin) at an average price of $88,530. This move is significant as it reveals the attacker’s strategy for handling stolen funds.
Why the Shift to ETH and WBTC?
When a bad actor obtains funds from an exploit, they typically move quickly to convert the assets into something more stable and easier to manage. The preference for ETH and WBTC over smaller, less liquid tokens is a clear strategy.
* High Liquidity: Bitcoin and Ethereum are the two largest and most traded cryptocurrencies. Their high liquidity allows for massive transactions without dramatically affecting the market price, making it easier for the attacker to sell or move the funds later.
* Reduced Volatility: While still volatile, ETH and WBTC are generally more stable than smaller project tokens. This consolidation limits the risk of the stolen funds losing significant value overnight.
* Anonymity Layer: By converting the money into major assets and then shuffling them through various addresses or mixers, the attacker attempts to make the original source of the funds harder to trace before ultimately trying to cash out.

This activity is a classic example of post-exploit fund consolidation. While the attacker may have succeeded in converting the assets, the public nature of the blockchain means these movements are constantly being tracked by security firms and exchanges. This monitoring is crucial for potential future recovery attempts or for blocking transfers to centralized exchanges.
Action Tip
Always exercise extreme caution when interacting with new or unaudited protocols. This case reminds the community that on-chain security firms are constantly monitoring large, suspicious transactions, which is essential for ecosystem health.

#OnChainAnalysis #orocryptotrends #UXLINK #ETH #WBTC
On-chain monitoring shows the UXLINK attacker converted over $5.4M in stolen funds into highly liquid ETH and WBTC. An analysis of the consolidation strategy.
Disclaimer
This content is for educational and analytical purposes only and should not be considered investment advice or a recommendation to trade. All market decisions carry risk.

The second phase of UXlink AIRDROP2049 event has officially started. The first 2049 friends who complete the task can share 100,000 U and AIR token airdrops.
【Rewards and Rules】
Airdrop 1: Each project provides 2049 USDT as a reward.
Complete tasks to accumulate points and share the USDT prize pool: 2049 users will be drawn for the draw, and after the event, 50% of the USDT value token rewards will be shared.
The top 2049 users in terms of points will receive 50% of the USDT rewards, of which the first-ranked user will receive 10%, the 2nd-500th-ranked users will receive 20%, and the 501st-2049th-ranked users will receive 20% of the USDT rewards.

🔔 Foreword:

I noticed an interesting phenomenon on-chain:
the number of holding addresses on Arbitrum has surpassed 1.286 million, surprisingly more than USDC's addresses?
To be honest, I was quite surprised when I saw this data at first. USDC is the king of stablecoins, essentially a "necessity asset." Yet, $UXLink, as a governance token, has quietly climbed to a high level in terms of on-chain activity and decentralization.

However, I thought about it calmly, and it's not without reason.

1️⃣ Why are there so many addresses holding $UXLINK?
First, the most superficial reason: UXLINK is one of the few projects in the Web3 social ecosystem that can attract users, retain them, and facilitate continuous interaction. Unlike some projects that rely solely on airdrops to stimulate short-term user data, it genuinely organizes a group of people through social relationships, fission, and ecosystem building.