WEMIX Stablecoin Compromised in $724K Security Breach

The blockchain network WEMIX suffered a security breach on July 26 when an attacker compromised ownership of its WEMIX$ stablecoin. The hacker converted it into 30,736 WEMIX and $724,198.27 in USDC stablecoins.

The stolen funds were transferred to Ethereum and BSC through bridges, then swapped into various assets including ETH and USDT. A portion of the assets was deposited into centralized exchanges.

WEMIX announced that it has identified the attacker's wallets and fund movements, which are being actively tracked. The company submitted requests for asset freezes and cooperation to relevant exchanges and stablecoin issuers.