WEMIX Again Targeted by Hackers... 5.22 Million Abnormal WEMIX Dollars Issued

WEMIX's blockchain platform suffered another security breach, with the ownership of a stablecoin contract compromised, leading to abnormal token issuance and conversion to other assets that were leaked. Following a major hack in February last year that resulted in delisting from cryptocurrency exchanges, WEMIX faces renewed trust issues in its ecosystem. The WEMIX team confirmed that ownership rights of the WEMIX Dollar contract were stolen on February 26, enabling unauthorized token issuance. Preliminary damage estimates indicate approximately 5.22 million WEMIX Dollars were issued, with 37,360 WEMIX and 724,198 USDC.e converted and exfiltrated. The stolen USDC.e was moved to Ethereum and BSC via bridges, then swapped into Ethereum and USDT, with portions funneled to centralized exchanges. WEMIX is tracing the attacker's wallet and fund movement paths, requesting asset freezes and cooperation from exchanges and stablecoin issuers. The team emphasized ongoing investigations with external experts and comprehensive contract audits. Key blockchain services were suspended to mitigate risks, including Chainlink CCIP, WEMIX3.0 bridges, and major liquidity pools. This incident marks the first major security breach since WEMIX's 2023 February hack, which resulted in 8.65 million WEMIX tokens stolen worth approximately KRW 90 billion. The team stated they took immediate action to contain the breach and will provide updates as more information emerges.