BREAKING: A Cryptocurrency Trading Platform Has Been Hacked, Bitcoin and 3 Altcoin Networks Affected – Here Are the Losses and Details

Cryptocurrency trading platform WOO X faced a major security breach in its history today.

According to blockchain security monitoring firm Cyvers Alerts, over $12 million in assets were withdrawn from the platform as a result of suspicious transactions involving the Bitcoin ($BTC), Ethereum ($ETH), Binance Coin ($BNB) and Arbitrum ($ARB) networks.

“Our system has detected numerous suspicious transactions related to WOO X, resulting in losses exceeding $12 million in total across the $BTC, $ETH, $BNB, and $ARB networks,” Cyvers Alerts said on social media.

Some of the notable transactions were as follows:

• A suspicious wallet on the Ethereum ($ETH) network received 1 million $USDT and additional $ETH from WOO's hot wallet. This $USDT was then converted to $ETH, transferring approximately $7.3 million to a new address.
• On the $BNB chain, 5 BTCB received from WOO were converted to $BNB and sent to another new wallet.

The WOO X team released an official statement regarding the incident, confirming that unauthorized withdrawals occurred on nine user accounts. The company stated, “We have contacted the affected users and will fully compensate for any unauthorized withdrawals.”

Stating that they have temporarily suspended withdrawals in order to prevent further possible risks, the platform used the following statements:

We are investigating a limited incident that occurred today on WOO X. The incident affected nine user accounts, and unauthorized withdrawals were made from these accounts. We have contacted the affected users. Withdrawals have been temporarily suspended as a precaution until our security review is complete. We are working to resolve the issue as soon as possible and will make a further announcement once transactions are restored.

*This is not investment advice.