On July 26, WEMIX experienced a serious security breach that allowed attackers to seize control of the WEMIX$ stablecoin contract’s owner privileges. Using this access, the hacker minted 5.23 million tokens without permission, triggering a swift response from the platform.
The stolen WEMIX$ tokens were quickly converted into 30,736 WEMIX and 724,198 USDC.e, then funneled through bridges onto Ethereum and BNB Smart Chain networks. Portions of the stolen funds were swapped further into Ether and USDT, before being dispersed across multiple wallets.
WEMIX traced the malicious wallet addresses and alerted cryptocurrency exchanges and stablecoin issuers, leading to frozen wallets on several platforms, though the exact exchanges and amount of funds frozen remain undisclosed. The company also halted all bridge and liquidity pool operations related to WEMIX3.0, including Chainlink CCIP and PLAY Bridge services, and paused trading on PNIX decentralized exchange to prevent further damage.
This marks WEMIX's second significant hack since February 2025, when roughly $6 million was stolen. The investigation into how the attacker obtained owner-level privileges is ongoing, with the platform conducting a full audit of contract permissions to bolster security.
