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Security & Hacks · 1 min read

X100 Exploiter Moves Proceeds Into Four 400-ETH Wallets After USDT Swap

An attacker swapped approximately 4.75 million USDT into ether following the X100 protocol breach, dispersing funds across multiple addresses.

Editorial oversight: Julian Mercer, Chief Editor
Bearish
$USDT $0.9987 −0.0% $ETH $2,340 −2.6%

At a glance

What happened
An exploiter converted about 4.75 million USDT into ether following an X100 governance breach and split funds across four 400-ETH wallets [1].
Why it matters
The multi-million dollar outflow drains protocol capital and scatters illicit funds across decentralized accounts [1].
Who is affected
X100 protocol stakeholders and liquidity providers in its Uniswap pools [1].
What's next
No next step announced [1].
Primary source
thedefiant.io: X100 Exploit Proceeds Split Into Four 400-ETH Wallets

Key points

  • The X100 exploiter swapped approximately 4.75 million USDT into ether 1.
  • Proceeds were divided into four wallets containing 400 ETH each, with 423 ETH left in a distribution wallet 1.
  • The incident followed a governance takeover yielding 4.85 million USDT and a 550,000 X token drain from Uniswap 1.

An attacker behind the X100 protocol exploit transferred illicit proceeds across multiple Ethereum addresses after converting stablecoins into ether 1. The initial exploiter swapped approximately 4.75 million $USDT into $ETH 1. Following that transaction, the attacker dispersed the acquired ether, splitting portions of the funds into four separate wallets holding 400 ETH each 1.

Beyond the amounts moved into the four designated addresses, a central distribution wallet retained an additional balance of 423 ETH 1. The transfers followed a broader breach of X100, which secured 4.85 million USDT after an unauthorized governance takeover 1. Another related transaction associated with the incident pulled 550,000 X tokens from a Uniswap liquidity pool 1.

Fund Dispersion and Protocol Outflows

The fund movements illustrate a multi-step liquidation strategy following the protocol compromise 1. By shifting out of USDT through on-chain swaps, the attacker redistributed millions of dollars worth of assets into ether across fragmented holding addresses 1. Decentralized finance platforms have faced recurring challenges around governance security and decentralized asset routing, an issue highlighted across multiple industry incidents involving cross-chain vulnerabilities and protocol exploits.

At the time of writing, ETH traded at $2,338 while USDT held parity at $0.9987. No formal recovery procedures or law enforcement notices have been announced by the X100 protocol team regarding the remaining balances in the distribution wallet or the secondary addresses 1.

Sources

  1. [1] X100 Exploit Proceeds Split Into Four 400-ETH Wallets — thedefiant.io, October 24, 2026

Written by Basis Desk's newsroom system from the primary sources above and machine-verified against them before publication. Market figures marked "at the time of writing" come from live exchange data. Report an error: corrections@basisdesk.news · corrections policy.

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