Oxpya Origin Token Compromised in Major Hack, $OXYZ Value Drops 86% Amid Ongoing Investigation

A major security failure has rocked the Ethereum network. The $OXYZ token, part of the Oxya Origin project, has been targeted by a hacker who compromised the project’s deployer wallet. In an apparent coordinated attack, the bad actor was able to mint billions of $OXYZ tokens, which have seen a rapid and dramatic decline in the price. Since the incident, $OXYZ value has decreased 86%, and the breach is now under intense scrutiny. The Incident: Attackers Mint Billions of $OXYZ Tokens The initial flag for the hack was from the Cyver Alert system. It detected an abnormal transaction pattern involving Oxya Origin on the Ethereum blockchain. The alert explained that the deployer wallet for Oxya Origin—which has admin control over the $OXYZ token—had been compromised. Because of this breach, the attacker was then able to transfer ownership of the token to some address that we can only assume was controlled by the attacker. Now, the attacker has minting rights over the $OXYZ token. From what seems to be a well-coordinated assault, the hacker minted an unbelievable 9 billion $OXYZ tokens, a move that crushed the market with an oversupply of the asset that was already just a few steps away from being deemed “toxic” by analysts. To convert those stolen tokens into something that could work as “money,” the attacker quickly carried out a series of swaps that netted them about $45,000 in more stable assets before doing an ostensibly more legal-seeming bridge to another blockchain using the Stargate protocol. Because of the minting and immediate liquidation of such a large number of tokens, the price of $OXYZ dropped nearly 86%, catching investors and traders off guard. After that, the hacker did not stop there. Minting the tokens was just the first step. The next move was to transfer the remaining 8.9 billion $OXYZ to a different address, and it looks like the hacker might be holding onto these funds for the time being. A Public Plea and Final Warning to the Attacker The Oxya Origin team has stated that a breach has occurred and has confirmed that it was compromised. The team is working to mitigate the damage and has put out a public statement asking that the funds taken during the breach be returned. The project’s leadership is offering the hacker a final opportunity to return the funds, with a very generous white-hat bounty incentive. If the funds are returned in full, the attacker is allowed to keep 10% of the amount stolen during the breach. The team offers a white-hat bounty with a clear condition attached—you must return 90% of the stolen funds immediately. They send the hacker a simple message: return the majority of the funds and walk away with a reward, or face the consequences of your actions. ALERT Our system has identified a suspicious transaction involving @OxyaOrigin on the #Ethereum network. Root Cause: The Oxya Origin deployer wallet appears to have been compromised, resulting in the ownership of the $OXYZ token being transferred to a suspicious address.… https://t.co/dlAmQtn5qM — Cyvers Alerts (@CyversAlerts) April 23, 2025 If the attacker does not comply, the Oxya Origin team has vowed to do all that’s necessary to track down the attacker’s identity and to recover the stolen funds. The means they’ll use include blockchain forensic experts, legal action in several jurisdictions, and reporting the incident to exchanges and authorities who can help serve the hacker with justice. Legal and Forensic Action on the Horizon Concerns have been raised about the security of smart contract deployer wallets and the broader ecosystem’s vulnerability to these kinds of attacks, thanks to a recent breach. The Oxya Origin team is now working with blockchain forensic experts to track the stolen assets and possibly identify the hacker based on the transactions made on the blockchain. The complexity of tracing the funds makes clear the severity of the attack and the motivation behind it. Legal teams are involved in several places because the hack affected various platforms, and they have had to work both together and separately to figure out where the stolen assets were moved. In the end, Oxya’s team pretended to embrace forgiveness while also allowing for the possibility of employing a legal recovery strategy that could leverage any number of laws covering hacking and fraud. Furthermore, the project is informing the pertinent exchanges and authorities about the incident. This is a crucial move to prevent the wrongdoer from covering up the theft or from using the pilfered crypto to trade assets via any crypto platforms. The whole thing amounts to a “serious” event with a “determined” undertaking to resolve it. The Future of Oxya Origin and $OXYZ The hack has had a major effect on the value of the $OXYZ token and on how confident investors feel about it. Yet even as the Oxya Origin project was geing hacked, the team was clearly working hard to solve the problem for their community. And when we look at this problem-solving in a positive light, the hacks may in fact be doing the team a favor: highlighting them, forcing them to work harder on guaranteeing the integrity of their platform. Still, the blow to the value of the $OXYZ token is more likely to take a while to heal, even with the promising prospect of the stolen funds being returned. The market’s confidence in the project seems largely tied to how effectively the team can manage the aftermath of the attack, restore control over the $OXYZ token, and, a big ‘if’ here, prevent future security breaches. Currently, the crypto community is watching Oxya Origin as the group strives to capture the hacker and get back the taken assets. The case’s end will almost certainly have permanent effects on how securely online (and decentralized) projects can operate—and on how swiftly and efficiently blockchain-based teams can respond to a major incursion. Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news !

Source: NullTx