Hackers Steal $70 Million from UPCX Payment Platform

The blockchain-based payment platform, UPCX, has fallen victim to a major crypto exploit, losing approximately $70 million in tokens. Hackers exploited a vulnerability in the platform’s administrative system to gain unauthorized access and execute a large withdrawal. 🚨Cyvers Security firm, who first detected suspicious activity, reported that hackers gained control of an address and modified the ‘ProxyAdmin’ contract, enabling withdrawals of funds from three separate wallets. The incident prompted UPCX to suspend all deposits and withdrawals on the platform while they investigate.