WEMIX contract control breached; 5.225 million tokens minted and proceeds bridged to Ethereum and BSC
AI Market Summary
WEMIX reported compromised contract ownership that enabled unauthorized minting (~5.23m WEMIX) and subsequent swapping into USDC.e, with proceeds bridged to Ethereum and BSC and converted into ETH/USDT, including partial CEX deposits. While the immediate price impact is concentrated in WEMIX, the cross-chain laundering path raises broader security and compliance scrutiny around bridges and stablecoin settlement on Ethereum, supporting near-term risk-off positioning.
Impact level
● Medium
Affected assets
ETH/USDT+3.57%
AI Insight · ETH/USDTAI Insight
▼ Bearish
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Huo Xing Finance reported that South Korean blockchain gaming platform WEMIX released an update on abnormal transactions and its ongoing response. The investigation found that control of WEMIX-related contracts was compromised, enabling an unauthorized mint of about 5,225,525 WEMIX. The attacker then swapped the tokens into roughly 30,736 WEMIX and 724,198.27 USDC.e.
According to the update, the USDC.e was bridged to Ethereum and BSC, converted into assets including ETH and USDT, and some funds were routed into centralized exchanges. The team said it has traced the attacker wallet and related fund flows and is asking exchanges and stablecoin issuers to freeze the assets.
WEMIX said the root cause remains under investigation, with internal teams and external specialists conducting a full review covering the affected, related, and similar contracts. Market data shows WEMIX fell 16.65% over the past 24 hours.
