WEMIX Blockchain Hit by Contract Breach, $724K in USDC.e Tokens Stolen

WEMIX, a layer-1 blockchain network, suffered a contract breach on Sunday at 9:17 UTC. The incident allowed an attacker to move about $724,000 in USDC.e tokens without authorization.

The attacker issued approximately 5.23 million WEMIX$, which was converted into 30,736 WEMIX and 724,198.27 USDC.e. This amount was then bridged to Ethereum and BNB Smart Chain before being exchanged for assets including Ether and Tether's USDT.

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