24.07.2025 22:04

A significant security breach at the cryptocurrency exchange WOO X resulted in the theft of $14 million in user funds, prompting the immediate suspension of all transactions. Blockchain security firm Cyvers initially reported the incident, highlighting the unauthorized access and subsequent loss. Unlike some breaches affecting company reserves, this attack specifically targeted individual user accounts.

The exchange reacted swiftly, proactively notifying its users and correcting earlier, lower estimates of the stolen funds. WOO X released an exclusive statement to BeInCrypto, detailing their response and ongoing investigation. This incident underscores the alarming rise in crypto-related crime in 2025, following the largest exchange hack in history just months prior.

Initial reports suggested a loss closer to $12 million, involving suspicious activity across multiple cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), and Arbitrum (ARB). WOO X confirmed that the breach affected only nine specific user accounts, emphasizing that the exchange's own funds remained unaffected.

The frequency of such attacks is deeply concerning. In recent weeks, a series of significant hacks have plagued the cryptocurrency industry, including a $44 million theft from CoinDCX, a $27 million loss at BigONE, and a $42 million breach affecting GMX. These events, coupled with the WOO X incident, paint a picture of escalating vulnerabilities within the cryptocurrency ecosystem.

WOO X remains committed to a thorough investigation, cooperating with leading security firms such as Seal911 to recover the stolen assets and enhance security protocols. While a timeline for resuming withdrawals remains uncertain, the exchange prioritizes the absolute security of its users' remaining funds above all else, promising further updates as they become available.