Blockchain security firm Blockaid reported an ongoing exploit targeting UNCX’s shared token-vesting pool on Ethereum on October 14, with about $86,000 drained. The incident affected tokens associated with multiple projects, while the full extent of potential losses remained unclear.
The transaction occurred at 11:49 a.m. ET and involved EDGEN, ZC, pepeCoin, LO0P and PAAL AI. Blockaid later linked the sender’s address to the suspected attacker and warned at 12:26 p.m. ET that the exploit was continuing.
Attacker Exploits Vesting Pool Mechanics
Blockaid said the attacker manipulated the vesting system by creating positions, releasing a large position and adding tokens to the shared pool. The attacker then canceled a position that had received additional tokens, leaving a small balance that could enable withdrawals of tokens locked by other users.
Related: FBI Shuts Down 241 Crypto Scam Websites in $Tens of Millions Fraud Crackdown
Etherscan data showed about $3.25 million in token holdings in UNCX’s V2 contract. However, that figure does not establish how much remained vulnerable or how much could be lost. UNCX had not issued a public statement by publication time.
UNCX Token Trades Higher
UNCX traded at around $24.70, up 12% over 24 hours. The incident raises questions about the security of shared vesting contracts, where a vulnerability could expose tokens associated with multiple projects.
The total losses and the number of affected users remained unconfirmed.
Related: Trezor Cuts Authorized Resellers After Ledger Wallet Tampering Reports
Please note, this site provides content for entertainment purposes only and does not offer financial advice. Read more here