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Hacker transfers $70M out of payment platform UPCX

Summary by Cointelegraph

An unauthorized party withdrew about $70 million in digital assets from open-source payment platform UPCX.

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ZyCrypto

Hacker Steals $70 Million from UPCX, Targets Developer Wallet Using Smart Contract

UPCX, a Web3 payment service, suffered a serious hack and lost $70 million in UPC tokens when an unauthorized user accessed the tokens from a smart contract. The developers became aware of the hack when they noticed multiple suspicious transactions exiting their project wallets. The hacker first accessed the project’s addresses and then upscaled the attack using the ProxyAdmin contact, withdrawing 18.4 million UPC tokens, which amounts to $70 mi…

2 days ago

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Bitcoin.com

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Cryptocurrency News | Cryptocurrency Prices | Market Cap

UPCX Assures Users After Unauthorized Transfer of 18.4M Tokens – Security Bitcoin News

UPCX, a decentralized payment network, has temporarily suspended deposits and withdrawals due to unauthorized activity in its management accounts. Unauthorized Transfer of Millions in UPC Tokens UPCX, a decentralized payment network, has announced the temporary suspension of deposits and withdrawals following the detection of unauthorized activity involving its management accounts. In an update shared via […]

3 days ago

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Tron Weekly Journal

Hacker Transfers $70 Million From UPCX In Major Security Breach

Hackers exploited a contract vulnerability, forcing UPCX to halt operations. UPC tokens fell 7%, highlighting Web3 security flaws behind 80% of 2024 crypto thefts. Experts urge stronger protections as UPCX tracks stolen funds. UPCX systems experienced unauthorized access by a hacker on April 1 who stole digital funds in mass quantities. Cyvers tracked an illegal transaction of 18.4 million UPC tokens, which totaled $70 million. 🚨ALERT🚨Our sys…

3 days ago

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The Defiant

Upcx Suffers Major Security Breach, $70 Million in UPC Tokens Drained; Deposits and Withdrawals Suspended

A major security breach has been reported involving Upcx, a cryptocurrency platform. Unauthorized access to its management account has resulted in the draining of approximately $70 million worth of UPC tokens. The breach was detected after suspicious transactions were identified, including an upgrade to the 'ProxyAdmin' contract and the execution of the 'withdrawByAdmin' function, which facilitated the transfer of 18.4 million UPC tokens from th…

3 days ago

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ecnetnews.com

UPCX Suspends Transactions Following $70 Million Security Breach

UPCX, the open-source payment platform, has suspended all transactions after an unauthorized withdrawal of approximately $70 million in digital assets was detected. Blockchain security specialists uncovered the breach on April 1, revealing suspicious activity linked to 18.4 million UPC tokens. Investigations show that an attacker gained access to a UPCX administrative wallet, modifying its ProxyAdmin contract to execute a withdrawal function, re…

3 days ago

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http://coinprofitnews.com

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crypto.news

UPCX halts transactions after $70m security breach

The open-source payment platform UPCX suspended transactions following an unauthorized withdrawal of approximately $70 million in digital assets. Blockchain security firm Cyvers identified the breach on April 1, flagging suspicious activity involving 18.4 million UPC tokens. Cyvers reported that an...

3 days ago

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