X100 Global Attackers Seize Two Senate Seats and Drain About $4.85M
By Crypto Wire
October 24, 2026
Security firm Blockaid flagged an ongoing exploit against X100 Global (also styled X 100 Global / X100.world) on Ethereum on October 24, saying attackers seized two of three Senate seats that control where the project’s liquidity sits and realized about $4.85 million in USDT across early transactions. Desk framing follows Blockaid, Exvul, and on-chain transaction reconstructions published Saturday — not a project press release. At the time of those alerts, researchers said the incident was still unfolding and that the project had not yet posted an official acknowledgment. The X token, described as a fixed-supply 14 million ERC-20, plunged more than 96% in secondary wraps as Uniswap liquidity thinned to near-empty prints.
The attack path researchers describe is governance design, not a random token-bug splash. Before the first hit, Senate ranking events showed three frozen stakes near 20,500 X, 19,000 X, and 1,000 X. In a transaction mined at 14:11:47 UTC, a contract tied to wallet 0x7ec2…fd63 borrowed about 1.94 million USDT from Aave inside one atomic flash loan, bought roughly 38,200 X from the main Uniswap V3 pool, and parked stakes of about 19,000.000001 X in two helper contracts after a 100 X registration fee each — just enough to outrank the second-place senator. Because seats keyed off live frozen balances with no voting snapshot, minimum hold, or execution delay, the new majority could propose, vote, and execute inside the same transaction. The on-chain proposal description, per CryptoTimes’ reconstruction, read “testnet flash governance proof.”
That first proposal directed the project’s Freezer treasury to sell 400,000 X into a thin pool the attackers had just created, returning only about 36 USDT to the treasury. Attackers then pulled that liquidity and sold a large X clip into the real Uniswap V3 X/USDT pool — CryptoTimes cites roughly 131,703 X for about 6.69 million USDT before the flash loan was repaid, with about 4.75 million USDT and residual X landing at attacker-controlled addresses. Blockaid and follow-on desks describe two further same-route steps at 14:35:59 UTC and 14:40:47 UTC from different sending wallets: burning Freezer Uniswap V3 positions and pulling another liquidity clip tied to roughly 550,000 X extracted across the cluster. Combined USDT realized sits near Blockaid’s ~$4.85 million figure; a later Blockaid update around 15:10 UTC still counted about 12.2 million X remaining in the Freezer while calling the attack ongoing.
Market damage was immediate. Secondary desks put pre-attack X prints in a rough $50–$60 band before the token collapsed toward about $1.75, with DEX liquidity measurements falling to a few dollars on some screens — treat those tape figures as attributed market color that moves with the book. For collectors and traders, the Rug Room cut is simpler than the path: a three-seat treasury controller with no snapshot or timelock let flash-funded stakes rewrite where reserves sat in one block. Standard mitigations researchers name for this pattern are voting-power snapshots before a proposal opens, minimum holding periods, and delayed execution after a vote — none of which appear to have constrained Saturday’s Senate calls.
Keep this chapter separate from today’s other security tape. Initia’s mint-to-bridge halt and TokenPost bridge-timing UPDATE (11053 / 11124) are MoveVM / bridge incidents on a different stack. Bitget’s third-party product trail and protection-fund chapters remain an exchange custody saga. X100’s print is a same-day Ethereum governance capture with Blockaid still counting residual Freezer X. Desk will not invent recovery math or freeze claims until the project or a named investigator posts them. Attribute all dollar and token tallies to Blockaid / Exvul / on-chain reconstructions cited by Saturday wraps — final loss accounting can still move if more Freezer positions are burned or if residual X is later recovered.
What to watch on-chain next: Track whether the remaining ~12.2 million X Freezer balance stays intact, whether attacker wallets (0x7ec2… cluster and later senders) bridge or CEX-deposit the ~$4.85 million USDT, and whether X100 Global posts an official halt, pause, or recovery plan that changes the governance surface.
Bottom line: Blockaid says attackers used flash-loan stakes to seize two of three X100 Global Senate seats on October 24 and realized about $4.85 million USDT while the X token crashed over 96% — with roughly 12.2 million X still counted in the Freezer as the trail stayed open.
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