tl;dr
Crypto exchange WOO X suspended transactions after a hack stole $14 million from nine user accounts, affecting user wallets but not company funds. The breach involved suspicious activity on BTC, ETH, BNB, and ARB networks. WOO X promptly informed users and halted withdrawals, emphasizing transparenc...
Blockchain security firm Cyvers reported that crypto exchange WOO X suspended transactions following a hack that resulted in the theft of $14 million from user accounts. Although the exact method of the breach remains unclear, the damage appears confined to user wallets rather than those affiliated with the company. WOO X promptly informed its users and admitted that the loss was greater than initially estimated.
The hack, part of a broader surge in crypto crime in 2025, involved suspicious activity on BTC, ETH, BNB, and ARB networks. WOO X identified that nine specific user-owned accounts were compromised. The exchange reacted swiftly by halting withdrawals and publicly confirming the breach, highlighting its commitment to transparency and security.
This incident is one of several high-profile attacks on crypto exchanges in recent months. CoinDCX suffered a $44 million theft due to a compromised internal wallet, BigONE lost $27 million, and GMX experienced a $42 million hack. Such events underscore the increasing risks facing centralized exchanges and the importance of robust security measures.
WOO X is currently investigating the breach in collaboration with top security firms, including Seal911 and Hypernative, to track stolen assets and identify vulnerabilities. The exchange has not yet set a timeline for resuming withdrawals, prioritizing thorough security reviews before restoring full service.
Although the breach's scale could be considered moderate relative to other incidents, the fact that user funds were accessed highlights significant gaps in WOO X's security protocols. Nevertheless, the company’s proactive communication and efforts to resolve the issue contrast with less forthcoming responses observed in previous hacks, signaling a positive step toward stronger industry standards.