SOMNIA Holding Strong at $0.90 Reversal Incoming?

UXLINK admitted its wallet was compromised when attackers stripped admin rights and rerouted tokens across Ethereum and Arbitrum. The Web3 social platform is now working simultaneously with central exchanges to freeze the stolen funds and with law enforcement to initiate formal investigations.

• UXLINK confirmed an $11.3m hack after attackers seized admin rights and rerouted funds across Ethereum and Arbitrum.
• The Web3 social platform is working with exchanges and law enforcement to freeze assets and recover stolen funds.
• The breach comes just months after UXLINK marked its third anniversary, celebrating 55m+ users and global growth.

On Sept. 22, blockchain security firm Cyvers flagged a series of highly suspicious transactions originating from a UXLINK protocol address. Their analysis revealed a sophisticated attack vector, with an Ethereum address executing a “delegateCall” to effectively seize control by removing the admin role and adding a new owner with threshold permissions.

Cyvers said the attack enabled the hacker to drain approximately $11.3 million in assets, including $4.5 million in stablecoins, WBTC, and ETH, before swiftly bridging and swapping portions of the haul across networks in an apparent attempt to launder the funds. Within minutes, another address received $3 million worth of UXLINK tokens, some of which remain unswapped. You might also like: Strive-Semler merger creates $1.2b Bitcoin treasury powerhouse

UXLINK responds as breach overshadows recent milestones

UXLINK acknowledged the exploit less than an hour after Cyvers’ alert, issuing what it called an “urgent security notice” to its users. While the official communication did not specify the exact figure, it confirmed that a “significant amount of cryptocurrency” had been illicitly transferred to both centralized and decentralized exchanges.

“We have already reached out to major CEXs and DEXs to urgently freeze suspicious UXLINK deposits and are coordinating closely with them to prevent further movement of funds. The incident has been reported to the police and relevant authorities to accelerate legal action and recovery efforts,” the team wrote on X.

UXLINK’s move to involve law enforcement underscores the severity of the incident and the project’s intent to pursue all available avenues for restitution. Notably, the timing of the hack carries added weight for the Web3 social platform.

Just three months ago, the Tokyo-headquartered project celebrated its third anniversary in July, an event that highlighted a period of remarkable growth. UXLINK reported its registered user base surging to over 55 million, with a presence in more than 100 countries, and emphasized its commitment to regulatory compliance and product innovation.

The hack now poses a direct challenge to that very narrative of maturation and stability. The breach of a core administrative wallet stands in stark contrast to the image of a robust, compliance-first infrastructure provider that UXLINK has carefully cultivated.

The platform has yet to issue another update as of press time.

#cryptocurrency #Blockchain #UXLINK #JuExchange

On December 17, the crypto market entered a consolidation phase following the sharp volatility seen earlier in the week. Bitcoin led a mild rebound, while Ethereum remained relatively subdued, reflecting a cautious recovery across risk assets. Total liquidations over the past 24 hours declined to $102.13 billion, and the Fear & Greed Index rebounded to 25, indicating easing panic but still restrained risk appetite.

Bitcoin rose 1.54% to $87,313.61, trading between a daily high of $88,161.72 and a low of $85,272.69, establishing a tentative base above prior support levels. Ethereum, by contrast, slipped slightly by 0.08% to $2,945.44, with intraday fluctuations ranging from $2,979.27 to $2,881.13. The divergence suggests that capital remains selective, with ETH yet to attract decisive inflows following recent drawdowns.

Positioning data continues to show a slight bearish tilt. Bitcoin’s global long–short ratio stands at 49.04% longs versus 50.96% shorts, while Ethereum’s ratio is more skewed at 48.48% longs against 51.52% shorts. Although the imbalance is not extreme, it underscores a market still pricing the current move as a rebound rather than a confirmed trend reversal.

Speculative activity remains concentrated in smaller-cap tokens. Among top performers, PTB/USDT surged 87.82%, EVER/USDT climbed 86.55%, and ASTB/USDT gained 76.98%, highlighting short-term capital rotation into high-volatility assets as traders seek opportunities amid major-asset consolidation.

From a structural perspective, integration between traditional finance and crypto continues to advance. Reports indicate that the top 25 U.S. banks are actively developing Bitcoin-related business capabilities, reinforcing the asset’s growing relevance within mainstream financial strategy. Visa has begun supporting transaction settlements for U.S. financial institutions using USDC on the Solana network, further strengthening stablecoin use cases in real-world payment infrastructure. Meanwhile, the UK regulator launched a consultation on new cryptocurrency rules, signaling continued progress toward regulatory clarity.

Narrative discussions also influenced sentiment. Michael Saylor argued that quantum computing will not undermine Bitcoin’s security, but may instead reinforce its scarcity and long-term value proposition, a view that resonated with long-term holders. Conversely, political uncertainty remains a headwind, as Senator Elizabeth Warren called for an investigation into a Trump-linked DeFi project, delaying progress on the U.S. crypto market structure bill and weighing on short-term confidence.

Overall, while institutional adoption signals and payment infrastructure developments provide constructive long-term support, the crypto market remains in a cautious stabilization phase. With regulatory debates ongoing and macro uncertainty unresolved, near-term price action is likely to remain range-bound, with sustained upside dependent on clearer liquidity and policy tailwinds.

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On December 30, crypto markets experienced a broad pullback during the final full trading session of the year, with major assets declining amid year-end position adjustments. Total liquidations over the past 24 hours rose to $110.51 billion, while the Fear & Greed Index slipped to 29, reflecting a more cautious tone as investors reduced exposure ahead of the year’s close.

Bitcoin fell 2.25% to $87,088.07, after briefly rallying to an intraday high of $90,406.08 before reversing lower and testing support near $86,814.52. Ethereum mirrored the move, declining 2.32% to $2,930.84, failing to hold above $3,056.10 and retreating toward $2,910.92, placing prices back in the middle of their recent consolidation range.

Positioning data remained tightly balanced, with BTC long positions at 50.23% and ETH longs at 49.97%. However, the sharp intraday reversals suggest limited follow-through from bulls at higher levels. Combined with the spike in liquidations, price action points to a wave of leveraged position unwinding rather than a deterioration in broader market fundamentals.

Despite pressure on major assets, speculative activity persisted in select small-cap tokens. TERRA/USDT surged 541.33%, while AA/USDT and ZBT/USDT gained 43.52% and 42.60%, respectively. These moves highlight ongoing short-term risk-taking in isolated pockets, though such rallies remain vulnerable in an unstable liquidity environment.

Macro and industry developments added further context. Spot gold and silver extended their declines amid a sharp year-end sell-off, indicating that traditional safe-haven assets were also affected by portfolio rebalancing. Coinbase reported that crypto open interest reached record highs in 2025, underscoring how elevated leverage has become a key driver of amplified market swings. On the security front, on-chain investigator ZachXBT uncovered a $2 million scam targeting Canadian users via fake Coinbase support, reinforcing the need for heightened vigilance during volatile periods.

At the same time, long-term infrastructure investment continues. BitMine announced that its Ethereum staking operations have surpassed the $1 billion milestone, with plans to launch the MAVAN validator network in Q1 2026. This development highlights that, despite near-term volatility, institutional capital continues to build exposure to core blockchain infrastructure.

Overall, the late-December pullback appears driven by year-end profit-taking and leverage normalization rather than a shift in the market’s longer-term trajectory. With open interest elevated and liquidity thinning, volatility is likely to remain high into the turn of the year, leaving the market poised for clearer directional signals as 2026 begins.

#cryptocurrency #blockchain #finance #Blockchain