UPCKS stops transactions after violating $ 70 million in

Outdoor payment platform Source UPCX suspension transactions after unauthorized withdrawal of about 70 million dollars of digital assets.

City Sigrice Blockcain identified Violation 1. April, marking suspicious activities involving 18.4 million UPC tokens.

Clya reported that the attacker acquired control of UPCKS administrative wallet and modified his Proxydmin agreement.

This enabled the execution of the withdrawal function, which leads to the transfer of the Fund with three different accounts of the Management Board. Stolen tokens remain in one wallet, without the observed attempts to replace or liquidate assets.

UPCX suspends deposits and transactions

UPCK confirmed He discovered an unauthorized approach and immediately took action by suspending deposits and withdrawals. The platform has provided users that their personal resources are intact and stated that internal investigation is ongoing.

Attack initiated a decline in the UPC token price, which fell 7% from $ 4.06 to $ 3.77 Coongecko.

As for the pressure time, UPCKS did not provide additional details on potential remediation measures. The incident follows the expanding trend of security vulnerabilities that affect the crypto platforms, and attackers are increasingly exploiting administrative funds in Siphon funds.

The UPCK’s breach is added Growing concern in the security of the Web3Emphasizing the need for improved smart security contract and access control to prevent future incidents.