WEMIX Compromised by $724,000 Attack, Bridges Suspended

The WEMIX layer-1 blockchain network has been compromised by an attacker who moved about $724,000 in USDC.e tokens after breaching a contract linked to its WEMIX$ stablecoin.

The incident occurred on Sunday at 9:17 UTC when the attacker issued approximately 5.23 million WEMIX$, which was then converted into 30,736 WEMIX and 724,198 USDC.e tokens.

The attacker used these funds to bridge assets between Ethereum and BNB Smart Chain before exchanging them for Ether and Tether's USDT and distributing them across multiple addresses.

WEMIX has identified the attacker's wallets and requested asset freezes and assistance from exchanges and stablecoin issuers, with some exchanges already freezing linked addresses.