In line with blockchain safety agency Cyvers, crypto trade WOO X suspended transactions after a hack stole $14 million of consumer funds. It’s unclear how this breach befell, however injury is outwardly remoted to consumer accounts as a substitute of company-affiliated wallets.
To date, the trade has been proactive in informing its customers, shortly admitting that the theft was bigger than preliminary stories steered. WOO X additionally offered BeInCrypto with an unique assertion on the state of affairs.
WOO X Hack Defined
Crypto crime is certainly excessive in 2025, as the most important trade hack in historical past befell a couple of months in the past. Earlier as we speak, on-line watchdogs reported a attainable hack at WOO X, representing a $12 million loss.
This concerned suspicious transactions on its BTC, ETH, BNB, and ARB networks:
WOO X, a centralized trade, subsequently suspended withdrawals and shortly posted a press release confirming {that a} hack befell.
The agency claimed that the breach was localized to 9 particular accounts, which had been apparently user-owned and never company-affiliated. Moreover, it confirmed that $14 million had been stolen, overshooting the estimated $12 million.
Hackers have been concentrating on crypto exchanges extensively all through the previous few months. Final week, CoinDCX’s inner pockets was compromised, enabling a $44 million theft.
Earlier, BigONE misplaced $27 million, and GMX fell sufferer to a $42 million hack. Shifting again to June reveals much more egregious crimes.
In the meantime, WOO X continues to be investigating the reason for this breach and plans to supply additional updates as quickly as attainable.
Already, the agency has offered an unique assertion on the state of affairs to BeInCrypto:
“At present there’s no timeline for resuming withdrawals as guaranteeing absolute safety is our high precedence. We’re reviewing each side of our on and offchain safety, and dealing with high safety groups like Seal911 to trace the misplaced property. Grateful to the lively neighborhood of safety groups together with Hypernative who reply shortly to assist us establish the onchain wallets,” a WOO X consultant claimed.
To be clear, we shouldn’t downplay the severity of this breach. Even when it was comparatively small, a hack involving consumer funds nonetheless evaded WOO X’s safety protocols.
On a optimistic word, the trade has been proactive in fixing the issue and informing its customers, in contrast to some victims of different latest assaults.
Disclaimer
In adherence to the Belief Mission pointers, BeInCrypto is dedicated to unbiased, clear reporting. This information article goals to supply correct, well timed info. Nonetheless, readers are suggested to confirm info independently and seek the advice of with an expert earlier than making any selections primarily based on this content material. Please word that our Phrases and Circumstances, Privateness Coverage, and Disclaimers have been up to date.