Cyber Attack Nets $14 Million from WOO X Across Four Different Blockchains
WOO X, a popular cryptocurrency trading platform, has temporarily halted all withdrawals following a significant cybersecurity breach that took place on July 24, 2025. The breach, which resulted from a phishing attack that compromised an insider’s device, has led to losses exceeding $14 million in stolen crypto assets.
The attack affected nine user accounts and parts of the platform's development environment, with unauthorized withdrawals initiated from these accounts. The stolen cryptocurrencies were moved through various networks, including Ethereum, BNB Chain, Bitcoin, and Arbitrum.
On Ethereum, $1 million USDT was swapped to ETH, with $7.3 million later moved to a new address. On the Binance Smart Chain, the attackers converted 5 BTCB into BNB and transferred the assets to a newly generated address.
WOO X has launched a full forensic review in partnership with security firms Seal911 and Hypernative to track stolen assets and determine the breach’s technical cause. The exchange has also pledged to reimburse all unauthorized losses from its treasury to the affected users.
The platform has been proactive in its communication with users, promptly notifying those affected by the breach and assuring them of full compensation. In response to the temporary suspension of withdrawals, WOO X emphasizes prioritizing security improvements before restoring full services.
This incident serves as a reminder of ongoing risks in the digital asset space and the importance of robust security protocols for crypto platforms. It adds to a broader trend of $3.1 billion in Web3 losses this year, many linked to access control flaws.
Users are advised to exercise increased vigilance until the situation is resolved and are urged to stay informed through official communication channels. The breach has reignited concerns over the safety of centralized trading platforms, underscoring the persistent threat of sophisticated cyberattacks.
As the investigation continues, WOO X remains committed to ensuring the security of its users' assets and restoring services as soon as possible, while maintaining transparency and open communication throughout the process.
Read also:
- Tesla is reportedly staying away from the solid-state battery trend, as suggested by indications from CATL and Panasonic.
- California links 100,000 home storage batteries through its Virtual Power Plant program.
- Financial regulatory body examines potential instability of Decentralized Finance (DeFi) and cryptocurrencies as they approach a significant growth milestone, known as "critical mass".
- Online Advertising Consent Framework Faced with Significant Ramifications According to Belgian Data Protection Authority's Decision
