WOO X Suffers $14 Million Breach Affecting 9 Users, Halts Withdrawals

WOO X, a cryptocurrency exchange, experienced an authorized breach on July 24, leading to the theft of approximately $14 million in crypto. The exchange promptly paused withdrawals to investigate and has committed to fully reimbursing affected users. The breach involved unauthorized withdrawals from nine user accounts, with the incident occurring shortly after an initial alert. WOO X identified six addresses believed to belong to the exploiter but did not disclose technical details of the access method. Security firm Cyvers Alerts observed suspicious flows exceeding $12 million across multiple blockchains involving WOO X. Cyvers reported specific transactions where funds from WOO hot wallets were converted and moved to new addresses. WOO X reassured users that the incident was confined to a small number of accounts holding substantial amounts of cryptocurrency. The exchange plans to share more information regarding the attack vector and the timeline for restoring full platform functionality. This event highlights ongoing security challenges within the cryptocurrency exchange sector.