Onyx’s treasury transferred 620 million XCN tokens as part of a migration plan, leaving 1.89 million XCN in the Ethereum contract. The transfer followed a security alert from Blockaid regarding a potential exploit.
XCN migration and security alert
The token movement was executed as part of a planned migration and reduced the balance held in the Ethereum contract to 1.89 million XCN. Blockaid had issued a security alert about a potential exploit, and the transfer took place after that alert.
Market context
Meanwhile, BTC continues to serve as a hedge against inflation amid global economic uncertainty. Regulatory efforts under CFT frameworks are also intensifying across major markets.
