X100 Global Senate Takeover Moves About 4.85 Million Tether (USDT)

Blockchain security firm Blockaid said attackers who gained control of two seats on X100 Global’s three-member Senate used its governance process to move treasury tokens and liquidity, realizing about 4.85 million Tether (USDT) on Saturday, Oct. 24.

In an update at 11:10 a.m. ET (15:10 UTC), Blockaid put X extracted at roughly 550,000 across three transactions and said about 12.2 million X remained in the project’s Freezer contract. The firm described the attack as ongoing at that time.

An earlier alert said one attacker sold 400,000 X from the treasury into an empty pool the attacker created, while another burned the Freezer’s Uniswap V3 liquidity positions. The third transaction used the same Senate route to pull a liquidity position associated with about 550,000 X.

X100’s governance model gives a holder Senate authority over where liquidity is held, with smart contracts carrying out Senate decisions. The project lists a fixed supply of 14 million X and identifies the token as an Ethereum ERC-20.