WEMIX Security Breach Raises Questions About Token Movement

A recent security incident at WEMIX has left users concerned about the safety of their funds. On July 26, an attacker gained control of a contract linked to WEMIX$, the company's dollar-linked stablecoin. The attacker then minted approximately 5.23 million tokens without authorization.

However, it appears that not all of these tokens were successfully moved out of the system. According to WEMIX, only about 724,198 USDC.e was transferred externally. This discrepancy has led some to question the severity of the incident and the accuracy of the initial reports.

The attack is the second major security incident at WEMIX in less than eighteen months. In March 2025, an attacker stole approximately 8,654,860 WEMIX coins from the Play Bridge Vault after obtaining an authentication key tied to the monitoring system for NILE, WEMIX's NFT platform.

The cause of the recent attack is still under investigation, and it is unclear how the attacker gained access to the contract. WEMIX has suspended bridges, affected liquidity pools, and other functions in response to the incident.