Overview
- WEMIX said the attacker gained owner-level control of the WEMIX$ stablecoin contract and minted about 5,225,525 WEMIX$ on July 26, then converted part of the tokens into 30,736 WEMIX and 724,198.27 USDC.e.
- The stolen USDC.e was bridged to Ethereum and BNB Smart Chain and partly swapped into ETH and USDT before WEMIX identified the attacker wallets and asked exchanges to freeze linked addresses.
- In response, WEMIX suspended all bridges including Chainlink CCIP and the PLAY Bridge, paused trading in affected liquidity pools, removed foundation liquidity, and halted the WEMIX$ Module and PNIX DEX.
- Investigators have not determined how owner privileges were compromised and are working with external security firms and exchanges on cross‑chain tracing to establish how much has been frozen or can be recovered.
- The incident follows a February 2025 breach that drained about 8.65 million WEMIX, heightens scrutiny of privileged contract controls during the WEMIX$ to USDC.e migration, and has pushed WEMIX$ close to record lows on market feeds.