Stablecoin Exploit
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WEMIX$ Stablecoin Exploit Forces WEMIX to Freeze Bridges and Halt Trading
WEMIX has confirmed a security incident where over 5 million WEMIX$ stablecoins were minted without authorization due to a compromised contract. The attacker converted these tokens to USDC.e and ETH, moving them off-chain. In response, WEMIX has frozen bridges and halted trading to contain the breach, while investigations and wallet tracing are ongoing.
WEMIX hit by stablecoin exploit as attacker cashes out $724,198
Wemade's WEMIX ecosystem experienced a significant security breach where an attacker exploited the WEMIX$ stablecoin contract, minting over 5 million tokens without authorization. The attacker converted approximately $724,198 worth of these tokens into USDC.e and WEMIX, transferring the funds across Ethereum and BNB Chain to exchanges. Wemade halted trading and services pending an investigation, with the incident occurring during a company ownership transition.