Hacker Steals $70 Million from UPCX Payment Platform

A security breach has impacted the open-source payment platform UPCX. An unauthorized party accessed the platform’s blockchain, transferring approximately $70 million in digital assets. According to Cyvers, a cybersecurity firm that flagged the suspicious activity, the perpetrator utilized an exploit of the ProxyAdmin contract to gain access and then executed a function enabling withdrawal. This resulted in funds being moved from three management accounts.