UPCX, an open-source payment platform, has suffered a significant security breach, resulting in the unauthorized withdrawal of approximately $70 million in digital assets. The incident was highlighted in a security alert issued on April 1, detailing that the blockchain security firm Cyvers detected suspicious activity involving about 18.4 million UPC tokens. The attacker gained access by upgrading a ProxyAdmin contract, which enabled withdrawal functions across three management accounts. Despite the substantial amount stolen, the tokens were reportedly not liquidity swapped into other cryptocurrencies at the time of reporting. In response to the breach, UPCX paused all deposit and withdrawal activities but stated that user assets remained unaffected. Following the news, UPC’s token price fell by 7%, dropping from a high of $4.06 to a low of $3.77. The platform is currently conducting an investigation into the breach and has reached out for further comment without receiving an immediate response.

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