WEMIX says attacker moved about $724,000 after contract breach
abstrak:Layer-1 blockchain WEMIX reported that an attacker compromised a contract linked to its WEMIX$ stablecoin, issuing about 5.23 million WEMIX$ without authorization and converting most into 30,736 WEMIX and 724,198.27 USDC.e. The USDC.e was bridged to Ethereum and BNB Smart Chain, then exchanged for Ether and USDT and distributed across multiple addresses, with some deposited into centralized exchanges. WEMIX identified attacker wallets, requested asset freezes from exchanges and stablecoin issuers, and noted some freezes were already applied. The company temporarily suspended all bridges connected to its WEMIX3.0 network, including Chainlink CCIP and the PLAY Bridge, halted trading in affected liquidity pools, withdrew foundation-provided liquidity, and paused the WEMIX$ Module and PNIX DEX. The cause and full impact remain under investigation.
Layer-1 blockchain network WEMIX said an attacker moved about 724,000 in USDC.e tokens after compromising ownership of a contract linked to its WEMIX$ stablecoin and issuing tokens without authorization.
The abnormal transactions occurred on Sunday at 9:17 UTC, according to a preliminary incident update from WEMIX. The attacker issued about 5.23 million WEMIX$, which was converted into 30,736 WEMIX and 724,198.27 USDC.e. The USDC.e was then bridged to Ethereum and BNB Smart Chain before being exchanged for assets including Ether and Tethers USDT and distributed across multiple addresses.
WEMIX said some of the funds were deposited into centralized exchanges. The company identified the attackers wallets and requested asset freezes and assistance from exchanges and stablecoin issuers, adding that some exchanges had already frozen addresses linked to the incident.
The company temporarily suspended all bridges connected to its layer-1 network, WEMIX3.0, including Chainlink CCIP and the PLAY Bridge. It also suspended trading in affected liquidity pools, withdrew foundation-provided liquidity, and paused services including the WEMIX$ Module and PNIX decentralized exchange.
WEMIX said the cause and full impact remain under investigation and warned that the preliminary figures could change.
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