TREE NEWS update: X100, an Ethereum-based project, suffered an ongoing exploit that had drained about 4.85 million USDT across two transactions as of 22:49, security firm Blockaid said on October 24. One attacker seized two of the project’s three “Senate” governance seats and sold 400,000 X tokens from the treasury into a self-created empty pool, while a second attacker destroyed the Uniswap V3 liquidity position held by the “Freezer” contract. Blockaid published the attacker addresses and sample transactions.
X100 on Ethereum Exploited, Attackers Drain ~4.85M USDT
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AI take
The mechanics here matter more than the dollar figure: a governance-seat takeover paired with a liquidity-position kill is a coordinated strike on both control and exit routes, not a simple contract bug. Projects that vest treasury and pool control in a small set of privileged roles — here, Senate seats and a Freezer contract — carry structural risk that audits of code alone won't catch. Watch whether Blockaid's published addresses lead to tracing or recovery, and whether other projects with similar seat-based governance review their role assignments.
Generated by AI for reference only.
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