X100 exploit: a flashloan bought two of three senate seats, what to check now

The information provided in this article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry a high degree of risk. Always conduct your own research.An attacker used a flashloan to buy the governance majority at X100 Global and emptied the project treasury, with damage of $4.75 million to $4.85 million. The case shows which three settings to look up in every protocol in which you lock tokens.An attacker took over the governance of the Ethereum project X100 Global on Saturday, October 24, 2026, and emptied its treasury. No stolen key and no bug in the program code were needed: the attacker borrowed money for the length of a single transaction, bought voting weight with it and took two of the three seats on what the protocol calls its senate. According to Bitcoin.com News, the security firm Blockaid tracked roughly $4.85 million in USDT and about 550,000 X tokens leaving the protocol across three transactions. The X token lost more than 96 percent of its value. If you lock tokens in a protocol, to vote or to earn a yield, this case is less a story about a small project than a list of things to check. Every one of those protoco...