Update April 1, 13:42 UTC: This article has been updated to add comments of the co -founder Cyvers and the director of Meir Dolev technology.

The unauthorized website withdrew about $ 70 million dollars of digital assets from the Open-Source UPCX payment platform, according to the security alert issued on April 1.

Troop tiled Suspicious activity covering 18.4 million UPC tokens, assessing the value of endangered funds for $ 70 million.

Cyvers said that someone had accessed to UPCX and updated his proxyadmin contract. Then the attacker performed a function that allows administrators to withdraw, which leads to financing transfers from three different management accounts.

At the time of writing, stolen tokens were not converted into other cryptographic resources.

Cointelegraph contacted UPCX for a comment, but did not receive an immediate answer.

UPC price will fall by 7% among the unauthorized transfer

UPCX confirmed that he has detected “unauthorized activity” covering his management accounts. Team suspended Deposits and payments for UPCX in response to the incident. It was found that the issue did not affect the user’s assets and is actively investigating the case.

The price of UPC token has dropped among the incident news. According to Coingecko, the prices of UPC tokens fell by 7%, from $ 4.06 to a low level of USD 3.77 during the incident.

Related: Hacker steals USD 8.4 million from Rwa Restaking Protocol Zoth

UPC Hack mirrors previous attack patterns

In the statement, co -founder of Cyvers and the MEIR Dolev technology director told Cointelegraph that although the basic reason for the attack remained examined, such incidents often result from a violation of certificates or faulty access control mechanisms.

Dolev told CointeLgraph that both of these gaps were the main cause of the Web3 loss in 2024. It occurred that the same reasons were responsible for over 80% of stolen funds per year.

The management of cybersecurity also said that the attack pattern was similar to previous feats. Dolev said Cointelegraph:

“This incident reflects the attack patterns, which we documented in earlier exploits, in which access to critical administrative roles enabled malicious updates and drainage of financing.”

Management added that Hack emphasized the urgent need to raise safety around the portfolio rights, Multisignature implementation and checking the correctness of executive transactions.

$ 70 million stolen in this incident over twice as much as the amount lost in the previous month. In March, crypto -stolen from hacks reached only $ 33 million.

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