Hacking News
X 100 Global Governance Attack: $4.85M Lost
X 100 Global, an Ethereum-based project, lost approximately $4.85 million in USDT on October 24. Attackers exploited the governance design of a three-seat Senate, which could be bought with a flash loan. They borrowed about 1.94 million USDT through an Aave flash loan, bought X tokens, and used them to control the Senate. The attackers then extracted about 550,000 X tokens from the Freezer treasury and sent them to an attacker-controlled liquidity pool, causing X's price to drop significantly. The attackers also manipulated Uniswap V3 liquidity positions, leading to extreme slippage for exit liquidity. The X 100 Global project has not yet issued an official statement regarding the attack.