Taiwan-based cryptocurrency exchange WOO X has had a severe security breach, with hackers stealing around $14 million in cryptocurrencies from nine user accounts. As a precaution, the exchange has suspended all withdrawals while an internal inquiry is conducted.
In a post on X, the exchange revealed that the affected accounts carried out unauthorized withdrawals, which were quickly sent to the hacker’s wallets and then moved further. The platform has assured its users that trading services and total user funds are safe and not impacted.
The exact method to gain access to the accounts remains unclear, and WOO X did not release information on the mode of the attack. However, security firm Cyvers Alerts confirmed that the stolen assets were sent to the attacker’s wallets, which have now been made public by the exchange.
In a statement, WOO X said it has already contacted the affected users and will fully reimburse them for the losses. The exchange is also working closely with external cybersecurity experts and other crypto exchanges to track the stolen funds and prevent further movement of the stolen assets.
WOO X also shared the attacker’s Bitcoin and Ethereum (EVM) wallet addresses so that the rest of the crypto community could track unusual behavior and block the hacker from being able to cash out.
The platform has assured users that they will keep them informed and will resume withdrawals once the internal audit is over and the security protocol is enhanced. In the meantime, the users are cautioned to remain vigilant and keep an eye on official channels for information.
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