X100 exploiter swaps $5M in USDT for ETH, leaves 1,600 ETH in four wallets

X100: X100 is an Ethereum-based DeFi protocol and utility token within the XChain ecosystem that powers payments, access control, and rewards across in-house decentralized applications such as gaming, e-commerce, and financial services. Its governance structure includes Senate seats that attackers recently seized to execute unauthorized treasury drains. Chainalysis publicly detailed the subsequent movement of exploit proceeds from the X100 incident. Chainalysis: Chainalysis is a blockchain analytics and compliance company that builds software used by institutions and governments to monitor cryptocurrency flows and investigate illicit activity. It reported on the X100 governance exploit, describing how the attacker converted stolen stablecoins to ETH and distributed the assets across four wallets while continuing to track follow-on movements. Governance Security: Governance attacks have become a notable exploit vector in DeFi protocols featuring instant voting and limited safeguards such as timelocks. Blockchain Monitoring: Analytics providers actively track and publicly report on-chain fund movements after major protocol incidents to aid community awareness.