---
title: "X100 Exploiter Moves Proceeds Into Four 400-ETH Wallets After USDT Swap"
description: "An attacker swapped approximately 4.75 million USDT into ether following the X100 protocol breach, dispersing funds across multiple addresses."
url: https://basisdesk.news/news/x100-exploit-proceeds-split-four-wallets-usdt-swap
published: 2026-10-24T19:50:11.708Z
modified: 2026-10-24T19:50:11.708Z
section: Security & Hacks
author: Basis Desk Newsroom (AI-generated, source-verified)
sentiment: bearish
tickers: [USDT, ETH]
tags: [x100, defi, ethereum, exploit, governance, uniswap]
license: Quote with attribution to Basis Desk (basisdesk.news). Not financial advice.
---

# 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.

## 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:** [X100 Exploit Proceeds Split Into Four 400-ETH Wallets](https://thedefiant.io/news/hacks/x100-exploit-proceeds-split-into-four-400-eth-wallets) — thedefiant.io

## 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].

## Editorial remark

- **Context:** The X100 protocol suffered an exploit stemming from a governance takeover that initially extracted 4.85 million USDT, alongside an outflow of 550,000 X tokens from Uniswap [1].
- **Impact:** X100 protocol liquidity and token reserves were drained as roughly 4.75 million USDT in illicit proceeds was converted to ether and dispersed across secondary addresses [1].
- **Watch:** Market observers are monitoring the four 400-ETH recipient addresses and the distribution wallet holding 423 ETH for further routing or cash-out activity [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](https://basisdesk.news/analysis/crypto-exploits-cross-chain-security-vulnerabilities).

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. [X100 Exploit Proceeds Split Into Four 400-ETH Wallets](https://thedefiant.io/news/hacks/x100-exploit-proceeds-split-into-four-400-eth-wallets) — thedefiant.io, 2026-10-24

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Basis Desk Newsroom · AI-generated, source-verified · https://basisdesk.news/about/how-we-use-ai