UXLINK Announces First Token Buyback After $11.3M Hack, Using Recovered Exchange Funds

Quick Breakdown 

• UXLINK to conduct its first community-approved token buyback on October 18–19.
• Buyback funded by recovered assets from Bybit, Bitget, and other exchanges.
• Additional buybacks planned as more frozen funds are retrieved.

 

UXLINK launches token buyback in post-hack recovery effort

Web3 social platform UXLINK has announced plans to initiate its first token buyback this weekend, October 18–19, as part of its recovery strategy following last month’s $11.3 million security breach.

🔔 UXLINK Buyback Update

We will initiate the first batch of Buyback this weekend, sourced from the returned frozen funds by CEX partners — huge thanks for their support. 🙏

The Buyback will take place on exchanges that have resumed UXLINK trading (on ETH mainnet).
All…

— UXLINK (@UXLINKofficial) October 14, 2025

In a statement posted on X on October 14, the team confirmed that the buyback will be financed by funds recovered from centralized exchanges, including Bybit and Bitget, which recently returned frozen assets linked to the attack.

Buyback to support the compensation plan

The upcoming buyback will occur on exchanges where UXLINK (UXLINK) trading has resumed after the project’s migration to a new Ethereum mainnet contract on September 25. The upgraded contract features stronger safeguards, such as the removal of mint and burn permissions and new third-party audits.

According to the announcement, all repurchased tokens will be directed toward the Swap & Compensation Plan, approved by the community on October 4 with 99.99% support. The plan aims to ensure fair compensation for both on-chain and exchange users, referencing a snapshot taken on September 22 at 14:55 UTC.

Recovery funds and future buybacks

This initial buyback uses only a portion of the recovered assets tracked down with assistance from SlowMist and SEAL 911, two blockchain security firms that helped trace stolen tokens across multiple chains. UXLINK stated that further buybacks will follow as additional assets are recovered from cooperating platforms.

To sustain compensation liquidity, UXLINK will unlock 8–12% of its community, team, and treasury tokens, temporarily adjusting long-term vesting schedules without affecting investor allocations.

Security overhaul and community revival

Following the hack, UXLINK has introduced hardware wallet integrations, quarterly red-team penetration tests, and expanded bug bounties to strengthen its defences. The project also rolled out tiered onboarding and zero-knowledge verification to boost user security.

These upgrades form part of UXLINK’s broader mission to rebuild user trust and enhance platform security. Since implementing these measures, community participation in governance and social engagement has reportedly increased fivefold.