UPCX has detected unauthorized activity and suspended deposit and withdrawal functions. A warning has identified suspicious transactions involving approximately 18.4 million UPC being transferred. User asset security has not been affected.

According to the Gate.io News bot, the Cyvers Alerts monitoring system reported a security incident on the Upcxofficial platform. An Address starting with 0x4C gained system access and transferred 18.4 million UPC Tokens, worth approximately 70 million USD, from three management accounts by upgrading the "ProxyAdmin" contract and executing the "withdrawByAdmin" function. The transferred funds are currently held in an address starting with 0xFf7, and no exchange transactions have taken place. The Upcxofficial team has responded to the incident, confirming the detection of unauthorized activity. Source: Wu Says

The Upcx management account has experienced unauthorized activity, leading to an emergency suspension of UPC deposit and withdrawal operations. Assets have not been affected. The attacker transferred 18.4 million UPC through contract upgrades, valued at approximately 70 million USD. Funds are temporarily held, and the incident is still under investigation.

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According to the official announcement, Gate.io will list UPC at 16:00 on January 29 (UTC+8) and open USDT trading pairs. It is reported that UPCX is an Open Source payment system that supports super applications, of which UPC is the native Token of UPCX, which can be used for a variety of purposes, including processing transactions and maintaining security, and can also be used as collateral to support the issuance of MPA. When transacting on UPCX, users and protocol owners must pay a small network fee through the UPC or MPA. UPC holders can participate indirectly in the selection of witnesses based on their UPC holdings.