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Following
WEMIX WEMIX confirmed that the smart contract was breached and approximately US$6.25 million in tokens were illegally minted and transferred.
According to a security bulletin issued by the project party, WEMIX has confirmed a smart contract attack, resulting in approximately US$6.25 million in tokens being illegally minted and transferred. The attack was voluntarily disclosed by the project team, rather than just emerging through external speculation.
In a statement about the security incident and the ongoing investigation, the project said the incident originated from a compromised smart contract that allowed attackers to create new tokens without authorization. WEMIX estimates the value of the affected tokens at approximately $6.25 million.
Theannouncement characterized the incident as an unauthorized minting act, and the newly minted coins were subsequently transferred rather than an ordinary wallet error. WEMIX described it as a security issue that is still under investigation.
Why illegal minting is more serious than simple wallet theft
Illegal minting is more serious than simple wallet theft because it creates a supply out of thin air that should not exist, rather than just transferring tokens between accounts. According to the official information channel of the project, the affected tokens are first minted and then transferred.
This distinction is critical to supply integrity. When contemporary coins can be minted outside the authorized range, the holder loses a reliable reference point for the circulation supply, which can undermine trust in the entire token ecosystem.
WEMIX has faced scrutiny before, including a sharp drop in WEMIX tokens in the event of removal from the Korean Exchange. Institutional risk exposure has also attracted much attention, with Alpha Asset Management reporting significant losses to WEMIX following the exchange action.
WEMIX's response and follow-up progress
WEMIX has publicly admitted the attack and said the investigation is still in progress and relevant security announcements have been issued. The project also kept records of previous incidents, including explanations of the Play Bridge attack and the foundation's response.
The latest news from the project party will be posted on the X account of the WEMIX Network. Readers should pay attention to subsequent details on incident control, the scope of affected supplies, and additional safety precautions to prevent further illegal mining.
In the reviewed materials, the project party has not detailed the recovery of the transferred tokens, nor has it provided the final impact figures other than the preliminary disclosure. This specific information will be the most noteworthy signals in the advancement of the investigation.
