UXLINK: A new token contract will be deployed on the Ethereum Mainnet, exchanging old tokens at a 1:1 ratio and removing the minting and burning functions.

On September 25, UXLINK released the latest security incident update on social media, stating that the new UXLINK contract will be deployed on the Ethereum Mainnet, with a total supply of 1 billion Tokens, and will be exchanged with the old UXLINK contract at a 1:1 ratio. The new contract removes the minting-burn feature, and cross-chain functionality will be implemented through partner cross-chain services. The migration plan is divided into two parts: one for centralized exchanges (CEX) and the other for on-chain users. The snapshot taken during the first transfer by the Hacker will determine whether users are eligible for exchange. The first batch of exchanges on CEX is expected to be completed within 1-5 business days, and the additional compensation schedule for CEX depends on the recovery status of the stablecoin. Most of the stolen and unlocked UXLINK Tokens have been suspended from trading. Some Tokens are still being traded. A separate compensation plan will be provided for affected users. UXLINK is actively working to recover assets sold by the Hacker through DEX, cross-chain bridges, and CEX. Based on the recovery progress, UXLINK will provide compensation plans for the community (including CEX users), including but not limited to: buyback plans, stake rewards / benefits, and trading incentives.