X 100 Global Loses Millions as Three-Seat Senate Is Hijacked
AI summary
Attackers reportedly seized two of three Senate seats at X 100 Global on Saturday and used the majority to drain the project's treasury. Blockaid traced roughly $4.85 million in USDT proceeds plus additional token withdrawals. The X token fell more than 96% and liquidity dried up, a reminder that governance capture is a live risk for small-cap DeFi projects and a reason traders should scrutinize admin controls before buying.
