WEMIX Attacker Moves $724K in Unauthorized Tokens

WEMIX, a layer-1 blockchain network, has confirmed that an attacker compromised ownership of a contract linked to its WEMIX stablecoin and issued unauthorized tokens. The breach occurred on Sunday at 9:17 UTC.

The attacker moved approximately $724,000 in USDC.e tokens after issuing about 5.23 million WEMIX tokens without authorization. These tokens were converted into 30,736 WEMIX and 724,198.27 USDC.e, which was then bridged to Ethereum and BNB Smart Chain.

The funds were exchanged for various assets, including Ether and Tether's USDT, and distributed across multiple addresses. Some of the funds were deposited into centralized exchanges.

WEMIX has identified the attacker's wallets and requested asset freezes and assistance from exchanges and stablecoin issuers. The company has also suspended all bridges connected to its layer-1 network, WEMIX3.0, including Chainlink CCIP and the PLAY Bridge.