Crypto Platform Suffers $12 Million Exploit Across Multiple Blockchain Networks

WOO X, a popular cryptocurrency trading platform, has been hit by a serious security breach.

The exploit led to over $12 million in unauthorized withdrawals across four major blockchain networks—Bitcoin, Ethereum, Binance Smart Chain, and Arbitrum.

Cyvers Alerts detects unusual transactions

Blockchain security firm Cyvers Alerts first flagged the activity, reporting multiple suspicious transfers originating from WOO X wallets. The most significant event occurred on Ethereum, where $1 million in USDT and additional ETH were drained from a WOO hot wallet.

The stolen USDT was quickly converted into ETH, then routed to a separate wallet—totaling around $7.3 million. On the Binance chain, attackers moved 5 BTCB into BNB and sent the funds to another new address.

Cyvers estimated total losses across all chains to be over $12 million.

WOO X confirms breach, suspends withdrawals

In an official response, WOO X acknowledged the breach and confirmed that nine user accounts were directly affected. The company said it has already contacted those users and promised full reimbursement for any unauthorized losses.

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Withdrawals on the platform have been temporarily suspended to prevent further damage. “We are investigating the incident and will resume transactions after completing a full security review,” the statement read.

Ongoing investigation and recovery underway

The WOO X team is working closely with security experts to identify the source of the breach. So far, the attack appears isolated, and the platform emphasized that only a small number of accounts were compromised.

More updates are expected once the internal review is complete and withdrawals are safely re-enabled. For now, users are advised to monitor official announcements and stay cautious.

Kosta Gushterov

Kosta has been working in the crypto industry for over 4 years. He strives to present different perspectives on a given topic and enjoys the sector for its transparency and dynamism. In his work, he focuses on balanced coverage of events and developments in the crypto space, providing information to his readers from a neutral perspective.