WEMIX says attacker moved about $724,000 after contract breach

cointelegraphОпубліковано о 2026-07-27Востаннє оновлено о 2026-07-27

Анотація

WEMIX reported a security breach where an attacker gained control of a contract linked to its WEMIX$ stablecoin, issuing approximately 5.23 million unauthorized tokens. These were converted into 30,736 WEMIX and 724,198.27 USDC.e. The attacker bridged the USDC.e to Ethereum and BNB Smart Chain, swapping for assets like Ether and USDT, and distributed them across multiple addresses, with some funds deposited into centralized exchanges. WEMIX has identified the attacker's wallets, requested freezes from exchanges and issuers, and confirmed some addresses have been frozen. In response, the company temporarily suspended all bridges to its WEMIX3.0 network, affected liquidity pool trading, and services like the WEMIX$ Module and PNIX DEX. The cause, full impact, and final figures are 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 Tether’s USDT and distributed across multiple addresses.

WEMIX said some of the 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.

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.

Cointelegraph contacted WEMIX for additional information but did not receive an immediate response.

Related: DeFi TVL drops 39% in 2026 amid market downturn and record hack activity

Трендові криптовалюти

CitreaCTR

wrapped stUSDTWSTUSDT

Velodrome FinanceVELODROME

Пов'язані питання

QWhat type of asset did the attacker primarily move after the contract breach?

AThe attacker moved about 724,000 USDC.e tokens.

QOn which day did the abnormal transactions from the attack occur?

AThe abnormal transactions occurred on Sunday.

QWhat action did WEMIX take regarding the bridges connected to its WEMIX3.0 network?

AWEMIX temporarily suspended all bridges connected to its WEMIX3.0 network.

QWhat did the company do after identifying the attacker's wallets?

AThe company requested asset freezes and assistance from exchanges and stablecoin issuers.

QAre the preliminary figures regarding the attack's impact considered final by WEMIX?

ANo, WEMIX warned that the preliminary figures could change as the full impact remains under investigation.

Пов'язані матеріали

Hong Kong prepares banks for quantum threats amid tokenization push

The Hong Kong Monetary Authority (HKMA) has launched a quantum preparedness framework and a Quantum Preparedness Index (QPI) for banks, as the city expands its use of blockchain and tokenized assets. The sector's current readiness score is 2.3 out of 10, with about half of surveyed institutions lacking formal plans. The HKMA aims for full readiness (QPI 10) by 2030. This initiative addresses rising risks as Hong Kong moves more financial activity, including tokenized green bonds and deposits, onto distributed ledgers. The HKMA warns that quantum computers could eventually break widely used cryptography, threatening core functions like transaction authorization and data security in these systems. The regulator urges banks to begin risk assessments and migration planning now.

cointelegraph20 хв тому

Hong Kong prepares banks for quantum threats amid tokenization push

cointelegraph20 хв тому

Take a Calm Look at Domestic Lithography Machines: 5 Units Delivered, How Far Are We from Challenging ASML?

This article analyzes recent news about China's domestic DUV lithography machines, advising a measured perspective. A state-backed enterprise plans to deliver about 5 immersion DUV systems this year, with a 2027 target of 20 units, aimed at 28nm processes. While this marks a step from R&D into initial customer validation, the author cautions against over-optimism. The piece clarifies this is DUV, not EUV technology. DUV is crucial but cannot economically solve challenges for advanced nodes like 5nm or below, where EUV is key. The 5-unit volume is minimal compared to ASML's annual output of over 130 such machines. The author highlights unverified claims regarding specs like 90% yield and warns against conflating this news with unconfirmed reports about Shanghai Micro Electronics' production. China's EUV efforts, while progressing with a prototype, remain in early testing, facing significant hurdles in core components like high-precision optics. The analogy of a "DeepSeek moment" is deemed misleading, as lithography involves slow, iterative precision engineering, not rapid software-like breakthroughs. Current progress represents establishing a potential second supply source and gaining vital engineering experience rather than an imminent industry disruption. For investors, the key indicators to watch are formal customer acceptance, stable operational performance, repeat orders, and growth in production volume and component localization. The conclusion is that this is a positive but early-stage development, far from altering the global competitive landscape.

marsbit25 хв тому

Take a Calm Look at Domestic Lithography Machines: 5 Units Delivered, How Far Are We from Challenging ASML?

marsbit25 хв тому

The 800x Golden Dog, "Gacha" Saves NFT Trading

Title: 800x Golden Dog: How 'Gacha' Mechanics Are Rescuing NFT Trading In the past month, the on-chain TCG (Trading Card Game) narrative, centered around "gacha" or loot box mechanics, has emerged as a major crypto-native revenue generator, second only to platforms like Hyperliquid and pump.fun. Recently, this trend hit Ethereum with Fake World Assets (FWA). Within just over a week, FWA generated approximately $1.3 million in revenue, ranking 15th in the past week's crypto app earnings. Its token, $FWA, surged from an initial market cap of ~$47,550 to a peak of ~$38.8 million—an 800x gain. Meanwhile, Collector Cards' token $CARDS declined significantly from its previous highs. FWA, developed by the team behind "PunkStrategy," operates as an NFT gacha system with a built-in token flywheel. Users deposit NFTs paired with ETH as liquidity into pools. Each deposit creates a personal pool; more ETH deposited lowers the chance of the NFT being "won" in a draw. Players spend ETH to "draw" (gacha). If they get an undesirable NFT, they can instantly sell it back to the original depositor at an 85% discount, generating income for the depositor. A 1% fee is taken on each draw and on depositor earnings when an NFT is kept. The key to FWA's momentum is its token $FWA. It cannot be bought directly externally. The primary way to acquire it is by playing the gacha and choosing to receive $FWA (instead of ETH) when selling back an unwanted NFT. This mechanism creates constant buy pressure for $FWA as players engage, especially during its price ascent. Early participants who held $FWA benefited massively from subsequent inflows. This contrasts with projects like Collector Cards, which, despite strong revenues, suffer from perceived low token utility beyond buybacks. In conclusion, while FWA's flywheel design—linking speculative token gains directly to NFT trading activity—has driven rapid growth, its sustainability is questionable. The model relies heavily on continuous $FWA price appreciation to offset the inherent negative expectancy of each draw. When price momentum stalls, activity will likely decline. The case highlights that in crypto markets, pure profitability narratives can be fleeting; understanding the relationship between attention, token buy pressure, and sustainable mechanics is crucial to avoid speculative pitfalls.

marsbit50 хв тому

The 800x Golden Dog, "Gacha" Saves NFT Trading

marsbit50 хв тому

The Quantum Computing Threat Approaches, Cryptocurrency May Be Exposed to Risks Before Banks

Quantum computing poses a significant threat to all cryptographic systems, including banks and governments, but decentralized cryptocurrencies with public ledgers like Bitcoin are likely the first practical target. Experts warn that a cryptographically relevant quantum computer (CRQC), capable of running Shor's algorithm to break the elliptic curve cryptography securing most crypto wallets, could emerge around 2029. Recent research shows the required quantum resources for such attacks are shrinking dramatically, potentially enabling key extraction in minutes. The core vulnerability for cryptocurrencies is not the cryptography itself—post-quantum standards are being developed—but the slow, decentralized governance required to implement upgrades. Unlike centralized banks that can swiftly transition, Bitcoin needs near-unanimous consensus among its global network, a historically difficult process as seen in past upgrades. Estimates suggest migrating all vulnerable Bitcoin funds could take at least 76 days of dedicated network time, and it must be completed before a CRQC exists to prevent "now-or-never" attacks on exposed keys. The threat is not binary; it begins when a quantum computer can decrypt data before it loses value, not necessarily in real-time. A significant portion of Bitcoin (estimated at millions of coins) already has public keys permanently exposed on-chain, making them vulnerable to eventual "static attacks." While technical solutions exist, the race is against time for decentralized networks to coordinate a defensive transition, serving as an early warning for the broader financial system.

marsbit1 год тому

The Quantum Computing Threat Approaches, Cryptocurrency May Be Exposed to Risks Before Banks

marsbit1 год тому

Here’s why the CLARITY Act’s ethics deal may be so hard to reach

The long-awaited US Digital Asset Market Clarity Act (CLARITY) faces a major hurdle over its ethics provisions, potentially derailing the bill. While there is broad agreement on the need for clearer digital asset rules, negotiators are divided. Democrats argue the current proposal's ethics rules are too weak and object to relying solely on the Department of Justice for enforcement, preferring state attorneys general have a role. They express concerns about conflicts of interest, citing President Trump's substantial crypto ventures. Republicans defend the provisions as historically strong and insist federal law should be enforced uniformly by the DOJ. The latest draft would ban senior federal officials from issuing digital assets while in office, with restrictions expiring in 2029. Despite the impasse, many observers believe a compromise is still possible. Industry representatives warn that rejecting the bill could leave no regulatory framework at all, whereas passing it would provide crucial certainty. The debate has now narrowed to finalizing ethics enforcement, seen as a sign of progress on the broader bill.

cointelegraph1 год тому

Here’s why the CLARITY Act’s ethics deal may be so hard to reach

cointelegraph1 год тому

Торгівля

Спот

Обговорення

Ласкаво просимо до спільноти HTX. Тут ви можете бути в курсі останніх подій розвитку платформи та отримати доступ до професійної ринкової інформації. Нижче представлені думки користувачів щодо ціни LAYER (LAYER).