Menu

  • Alerts
  • Incidents
  • News
  • APTs
  • Cyber Decoded
  • Cyber Hygiene
  • Cyber Review
  • Cyber Tips
  • Definitions
  • Malware
  • Threat Actors
  • Tutorials

Useful Tools

  • Password generator
  • Report an incident
  • Report to authorities
No Result
View All Result
CTF Hack Havoc
CyberMaterial
  • Education
    • Cyber Decoded
    • Definitions
  • Information
    • Alerts
    • Incidents
    • News
  • Insights
    • Cyber Hygiene
    • Cyber Review
    • Tips
    • Tutorials
  • Support
    • Contact Us
    • Report an incident
  • About
    • About Us
    • Advertise with us
Get Help
Hall of Hacks
  • Education
    • Cyber Decoded
    • Definitions
  • Information
    • Alerts
    • Incidents
    • News
  • Insights
    • Cyber Hygiene
    • Cyber Review
    • Tips
    • Tutorials
  • Support
    • Contact Us
    • Report an incident
  • About
    • About Us
    • Advertise with us
Get Help
No Result
View All Result
Hall of Hacks
CyberMaterial
No Result
View All Result
Home Incidents

Hacker Steals $70 Million from UPCX Platform

April 3, 2025
Reading Time: 2 mins read
in Incidents
Polish Civic Platform Hit by Cyberattack

UPCX, an open-source payment platform, suffered a significant loss of $70 million worth of tokens. The breach was discovered on April 1, when suspicious activity was flagged involving 18.4 million UPC tokens. Blockchain security firm Cyvers traced the breach to a compromised UPCX address where the ProxyAdmin contract was upgraded by an unauthorized party. The attacker used this vulnerability to execute a function that allowed fund transfers from three different management accounts.

In response, UPCX immediately suspended operations, halting deposits and withdrawals while they investigated the incident. The platform assured users that their assets were unaffected, but the stolen tokens had not been converted into other crypto assets yet. During this time, UPC’s token price dropped by 7%, reflecting the market’s reaction to the breach.

The value of UPC tokens fell from $4.06 to $3.77, showing investor concern over the platform’s security.

The hack follows a pattern seen in previous Web3 exploits, often linked to compromised credentials or flawed access control mechanisms. Meir Dolev, Cyvers’ CTO, stated that these vulnerabilities were responsible for over 80% of stolen funds in 2024. The breach serves as a stark reminder of the need for heightened security measures around wallet permissions, multisignature protections, and transaction validations.

Cyvers noted that this pattern of attack, involving unauthorized access to critical administrative roles, has been commonly observed in similar incidents.

This breach’s scale marks a significant increase in crypto thefts, surpassing previous months’ losses. In March, the total amount stolen in crypto hacks was around $33 million, less than half the amount taken in this attack. The incident underlines the urgency of improving security protocols within Web3 and cryptocurrency platforms, as vulnerabilities continue to be exploited by malicious actors.

Reference:

  • Hacker Steals $70 Million from UPCX Payment Platform in Unauthorized Breach
Tags: April 2025cyber incidentsCyber Incidents 2025Cyber threats
ADVERTISEMENT

Related Posts

Avantic Lab Affected By Ransomware

Avantic Lab Affected By Ransomware

July 11, 2025
Avantic Lab Affected By Ransomware

Microsoft’s Outlook Long Outage

July 11, 2025
Avantic Lab Affected By Ransomware

$40M+ Stolen from GMX Crypto Platform

July 11, 2025
Nippon Steel Solutions Data Breach

Bitcoin Depot Breach Exposes Data

July 10, 2025
Nippon Steel Solutions Data Breach

McDonald’s AI Hiring Bot Exposes Data

July 10, 2025
Nippon Steel Solutions Data Breach

Nippon Steel Solutions Data Breach

July 10, 2025

Latest Alerts

Fake Sites Push Investment Scams

Fake Firms Push Malware on Crypto Users

Severe WordPress Flaw 200K Sites at Risk

RondoDox Botnet Exploits Router Flaws

ServiceNow Data Exposure via ACLs

Hackers Revive SEO Poisoning

Subscribe to our newsletter

    Latest Incidents

    Microsoft’s Outlook Long Outage

    Avantic Lab Affected By Ransomware

    $40M+ Stolen from GMX Crypto Platform

    Bitcoin Depot Breach Exposes Data

    McDonald’s AI Hiring Bot Exposes Data

    Nippon Steel Solutions Data Breach

    CyberMaterial Logo
    • About Us
    • Contact Us
    • Jobs
    • Legal and Privacy Policy
    • Site Map

    © 2025 | CyberMaterial | All rights reserved

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In

    Add New Playlist

    No Result
    View All Result
    • Alerts
    • Incidents
    • News
    • Cyber Decoded
    • Cyber Hygiene
    • Cyber Review
    • Definitions
    • Malware
    • Cyber Tips
    • Tutorials
    • Advanced Persistent Threats
    • Threat Actors
    • Report an incident
    • Password Generator
    • About Us
    • Contact Us
    • Advertise with us

    Copyright © 2025 CyberMaterial