WEMIX Halts Services After $724K Stablecoin Contract Breach
WEMIX$ stablecoin contract compromised; attacker issues unauthorized tokens, steals $724k USDC, bridges funds, services suspended. July 27, 20262An attacker compromised a WEMIX$-linked contract, issuing. . .
WEMIX$ stablecoin contract compromised; attacker issues unauthorized tokens, steals $724k USDC, bridges funds, services suspended. July 27, 20262An attacker compromised a WEMIX$-linked contract, issuing unauthorized tokens and moving approximately $724,000 inUSDC. e. The attacker bridged stolen funds toEthereumand BNB Smart Chain, converting them to Ether and USDT before distributing across multiple addresses. WEMIX suspended bridges, liquidity-pool trading, and multiple services while requesting asset freezes from exchanges and stablecoin issuers. Layer-1 blockchain networkWEMIXreported that an attacker compromised ownership of a contract linked to its WEMIX$ stablecoin and moved about $724,000 in USDC. e tokens. The incident occurred on Sunday at 9:17 UTC, according to a preliminary update from the company. - Advertisement -The attacker issued approximately 5. 23 million WEMIX$ tokens without authorization, converting them into 30,736 WEMIX and 724,198. 27 USDC. e. Consequently, the USDC. e was bridged to Ethereum and BNB Smart Chain before being exchanged for assets including Ether andTether‘s USDT, then distributed across multiple wallets. WEMIXstated that some of the stolen funds were deposited into centralized exchanges. The company identified the attacker’s wallets and requested asset freezes and assistance from exchanges and stablecoin issuers, adding that some exchanges had already frozen addresses linked to the incident. Meanwhile,WEMIXsuspended bridges, liquidity-pool trading, and several other services in response to the breach. ✅ FollowBITNEWSBOTonTelegram,Facebook,LinkedIn,X. com, andGoogle Newsfor instant updates. Previous Articles:CFTC issues second warning to prediction markets in 2024Strait of Hormuz Reopening Months Away, Experts WarnBitcoin OG Selling Eases as Dormant BTC Movement Hits 4-Year LowBitMart exchange shuts down, BMX token crashes by nearly 70%SourTrade Malware Built in Browser Using Bun RuntimeStay in the Loop🔥Join 1. 2K Smart Traders- Advertisement -Get exclusive crypto insights, breaking news, and market analysis delivered straight to your inbox. No fluff, just facts. Latest NewsMust Read