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WEMIX Exploit: Attacker Siphons $724K After Compromising WEMIX$ Stablecoin Contract

July 26, 202607:53 PM
WEMIX Exploit: Attacker Siphons $724K After Compromising WEMIX$ Stablecoin Contract

A major security breach has struck the WEMIX Layer-1 blockchain, where an attacker successfully compromised a contract linked to the WEMIX$ stablecoin to drain roughly $724,000 in USDC.e tokens. By gaining unauthorized ownership of the contract, the hacker issued millions of fraudulent tokens, which were swiftly converted into liquid assets.

To mitigate the fallout, WEMIX has suspended all bridges, liquidity-pool trading, and several key services. The stolen funds were bridged to Ethereum and BNB Smart Chain, eventually being swapped for Ether and Tether (USDT) before being distributed across multiple wallets, prompting WEMIX to coordinate with centralized exchanges for immediate asset freezes.

This is a summarized and adapted version by Artificial Intelligence. To read the complete original story, visit the official source.

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