X 100 Global Suffers $4.85M Exploit in Governance Takeover
Attackers captured two of three Senate seats, draining the project's treasury and causing the token to crash over 96%.
Attackers captured two of three Senate seats, draining the project's treasury and causing the token to crash over 96%. Tether (USDT) is trading at ₹94.96 ($0.9992). This is an original Token Times brief based on reporting by Bitcoin.com, with live market data added, as of Sat, 24 Oct 2026 21:00:01 UTC.
This incident highlights the risks of governance vulnerabilities in decentralized projects, where control of key decision-making bodies can lead to significant financial losses and undermine investor confidence.
- Attackers seized control of two Senate seats in X 100 Global's governance system.
- Approximately $4.85 million in USDT and tokens were drained from the treasury.
- The X token plummeted over 96% following the exploit.
- The incident underscores the importance of robust governance security measures.
On Saturday, X 100 Global fell victim to a devastating governance attack, with perpetrators seizing control of two out of the three Senate seats. This majority control enabled the attackers to exploit the project's treasury, resulting in significant financial losses for the platform.
According to Blockaid, the attackers managed to drain approximately $4.85 million in USDT and additional tokens from the treasury. This information is consistent with on-chain data, which verifies the movement of funds.
The incident has had a catastrophic impact on the X token, which has plummeted by over 96% since the attack. The loss of liquidity further exacerbates the situation, leaving investors with substantial losses.
The broader crypto market remains relatively stable, with a total market cap of $2.76 trillion. 
Bitcoin is down 0.86% over the past 24 hours, while 
Tether (USDT) has remained virtually unchanged at $0.99916.
This incident underscores the vulnerabilities inherent in decentralized governance systems and the potential for significant financial damage when these systems are compromised. Investors and developers will likely scrutinize governance mechanisms more closely in the aftermath of this event.
Since this brief published about 1 hour ago, Tether (USDT) has moved from ₹94.96$0.9992 to ₹94.96$0.9992 — +0.00%.
The chart plots USDT's price: grey is the move before this brief published, the vertical dashed line marks the moment it published, the horizontal dashed line is the price then, and the coloured area is the move since — from Token Times's market data (daily resolution). It shows what happened after the news, not that the news caused it; many factors move prices. Not financial advice.
At today's peer-to-peer rate, 1 USDT ≈ ₹102.21 (about $0.9992), up 0.0% over 24 hours. The rupee itself trades about 7.6% above the official rate on the P2P market, so a Indian buyer's effective cost differs from the headline dollar price.
Live market data
Current prices for the asset in this story — live, source-stamped, updated every 15 minutes.
Figures and sectors in this story, checked live against on-chain aggregators · October 24, 2026.
Token Times reads these figures directly from on-chain aggregators (DeFiLlama, mempool.space) at build time — independent of what any outlet reported. Sector totals aggregate every protocol DeFiLlama tracks in that category. Values are live and will change.
X 100 Global Suffers $4.85M Exploit in Governance Takeover — questions & answers
How much was stolen from X 100 Global's treasury?
Approximately $4.85 million in USDT and additional tokens were drained from the treasury.
What caused the X token to crash?
The X token crashed over 96% due to the governance takeover and subsequent treasury exploitation.
How did the attackers gain control of the Senate seats?
The exact method of the attack is not specified, but attackers captured two of the three Senate seats to gain control.
How much is 1 Tether worth in rupee today?
About ₹102.21 at the live peer-to-peer (P2P) USDT rate, which is what Indians typically trade at — equivalent to roughly $0.9992. The rupee price moves with both USDT's US-dollar price and the USDT/INR rate; use our Tether in rupee page for any amount.
Which outlets reported this story?
This is an original Token Times brief that synthesises reporting from Bitcoin.com. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original Token Times brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.