Attackers reportedly took two of X 100 Global’s three Senate seats in a flash-loan governance attack on October 24, 2026, and extracted funds from its treasury. Security firm Blockaid traced about $4.85 million in USDT proceeds. Investigators said the attackers used borrowed funds to buy voting power and execute proposals almost immediately; the governance system lacked voting snapshots, minimum holding periods and execution delays.
The X token reportedly fell more than 96% as Uniswap liquidity dwindled, making sizable sales vulnerable to steep losses from slippage. Blockaid’s latest cited update said about 12.2 million X tokens remained in the treasury and described the incident as ongoing. The project had not issued an official statement as of 3 p.m. EST on October 24.
