Coinbase Suspended UXLINK Futures Trading

The recent developments in the cryptocurrency market continue to attract the attention of investors. In particular, the dramatic drop in the price of UXLINK (UXLINK) altcoin following a security breach has increased investors' concerns. UXLINK lost approximately 70% of its value after an attack that occurred on September 23, 2023. Following this event, the US-based cryptocurrency exchange Coinbase announced that it would suspend futures contracts for UXLINK as of October 7, 2023.

Coinbase's announcement further deepens the negative impact on investors. The related decision will be applicable on the Coinbase Advanced and Coinbase International Exchange platforms. The suspension will occur around 13:30 Turkish time on October 7, 2025. During this period, open positions will be automatically closed, and the final settlement price will be determined based on the 60-minute average price before the transactions close.

Due to security concerns following the attack, UXLINK was added to the "trading warning" list by leading exchanges in South Korea. Although UXLINK managed to freeze some losses by collaborating with the cybersecurity firm PeckShield after the events of last month, the project's recovery process still remains uncertain. Coinbase's latest decision indicates that investor confidence has not yet been fully restored and that a more cautious approach has been adopted in terms of risk management.

In particular, the decision to zero the funding rate and the automatic position closure are among the additional measures taken to protect investors from possible price manipulations. This situation highlights how difficult it is to rebuild trust in the UXLINK altcoin. It is extremely important for investors to closely monitor UXLINK and its related developments to minimize potential risks.