X100 on Ethereum has suffered a major security breach, with approximately $4.85 million in USDT drained. Attackers seized 2 of 3 governance seats, manipulated liquidity pools, and destroyed a Uniswap V3 liquidity position. This incident highlights how governance control and liquidity mechanisms can become serious attack vectors in DeFi. Smart contract security is not enough if control systems remain vulnerable. Users should avoid interacting with affected contracts until the project releases verified security guidance.

#ETH #cryptofirst21

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