X100 governance takeover drains 4.85 million USDT in ongoing Ethereum exploit
AI summary
An attacker exploited the X100 protocol, extracting 4.85 million USDT after seizing control of its governance. Two transactions converted treasury tokens and liquidity positions into USDT, and security firm Blockaid warned the Ethereum-based attack was still ongoing. Traders should watch for contagion risk and further losses as the exploit may not be contained.
