X 100 Global Loses Millions as Three-Seat Senate Is Hijacked
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5 Articles
According to ChainCatcher, BlockSec monitoring revealed that a suspicious transaction on Ethereum by X100 Global resulted in a loss of approximately $4.75 million. The attack stemmed from a governance mechanism design flaw: the attacker used a flash loan to borrow funds to purchase X tokens, allocated the tokens to two controlled contracts, and then deposited them into Freezer. This allowed the attacker to control two of the three senator seats …
X 100 Global Loses Millions as Three-Seat Senate Is Hijacked
Several reports say X 100 Global suffered a devastating governance takeover on Saturday, after attackers reportedly captured two of its three Senate seats and exploited their majority to raid the project’s treasury. Blockaid traced approximately $4.85 million in USDT proceeds and additional token withdrawals. The X token plunged more than 96%, while liquidity evaporated across […]
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