WEMIX said an investigation into abnormal transactions found that ownership of a contract tied to the project had been compromised, allowing an attacker to mint about 5,225,525 WEMIX without authorization. The project said the newly minted tokens were later swapped into roughly 30,736 WEMIX and 724,198.27 USDC.e. According to the update, the stolen USDC.e was bridged to Ethereum and BNB Smart Chain, where it was exchanged into assets including ETH and USDT, with part of the funds deposited to centralized exchanges. WEMIX said it has traced the attacker’s wallets and fund flows and is seeking freezes from exchanges and stablecoin issuers. The exact cause of the incident remains under investigation. The team said it is conducting a broader review with external experts and checking related and similar contracts. Market data showed the WEMIX token was down 16.65% over the past 24 hours.
South Korean blockchain gaming platform WEMIX said its review of abnormal transactions found that ownership of a contract related to WEMIX had been compromised, and the attacker minted about 5,225,525 WEMIX without authorization.
In its update on the incident and response measures, WEMIX said the tokens were later exchanged into about 30,736 WEMIX and 724,198.27 USDC.e. The stolen USDC.e was then moved through a bridge to Ethereum and BSC, where it was swapped into assets including ETH and USDT. Part of the funds was deposited into centralized exchanges.
WEMIX said it has traced the attacker’s wallets and the movement of funds, and is asking exchanges and stablecoin issuers to freeze the assets. The exact cause of the breach is still under investigation, according to the team, which added that it is carrying out a full review with external experts while also checking related and similar contracts.
Market data showed the WEMIX token fell 16.65% over the past 24 hours.
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