UXLINK: A new token contract will be deployed on the Ethereum mainnet, exchanging old tokens at a 1:1 ratio and removing the minting and burning functions

ChainCatcher message, UXLINK has posted the latest security incident update on social media, stating that a new UXLINK contract will be deployed on the Ethereum mainnet, with a total supply of 1 billion tokens, and will be exchanged with the old UXLINK contract at a 1:1 ratio.

The new contract removes the minting-burning feature, and cross-chain functionality will be achieved through the partner's cross-chain service. The migration plan is divided into two parts: one for centralized exchanges (CEX) and the other for on-chain users. The snapshot taken when the hacker makes the first transfer will determine whether users are eligible for the exchange.