Blockchain platforms WOO X experience $14 million theft across four systems
On July 24, 2025, WOO X, a popular cryptocurrency trading platform, suffered a significant cybersecurity breach. The attack, which appears to be a sophisticated phishing attack targeting an internal team member's device, allowed unauthorised access to the platform's development environment and user wallets [1][2][3][4].
The breach resulted in the unauthorised withdrawal of approximately $14 million from nine user accounts across multiple blockchain networks, including Bitcoin, Ethereum, Binance Smart Chain (BNB Chain), and Arbitrum [1][2][3][4].
The stolen crypto assets were moved through various blockchain networks. On Ethereum, about $1 million in USDT was taken from a WOO hot wallet, converted to ETH, and further routed to other addresses, totaling roughly $7.3 million moved there [1][3]. On Binance Smart Chain, 5 BTCB tokens were converted to BNB and transferred out [1][3]. Funds were also withdrawn across Bitcoin and Arbitrum networks, as confirmed by blockchain analysis firms like Cyvers [1][3][4].
Upon detection of the breach, WOO X swiftly halted all withdrawals to prevent further loss, blocked many withdrawal attempts, and contacted affected users, pledging full reimbursement of losses [1][2][3][4][5]. The platform remains in a heightened state of alert as it works to rebuild user confidence and reinforce its defenses against potential future threats.
WOO X is currently conducting a comprehensive forensic investigation in collaboration with external experts to identify the breach source and restore platform security. A clear timeline for resuming withdrawals has not been provided [1][2][3][4]. The platform urges users to stay informed through its official communication channels.
This incident serves as a reminder of the ongoing risks in the digital asset space, especially as malicious actors exploit vulnerabilities in cross-chain platforms and wallet infrastructures. Phishing-related losses have reached $600 million in the first half of 2025, highlighting ongoing vulnerabilities in crypto platforms [2].
Despite the breach, WOO X has stated that the incident appears to be isolated and limited to a small number of user accounts holding significant crypto amounts, with no indication that the company’s own assets were affected [1][3][5]. Affected users have been promptly notified and will receive full compensation for any unauthorized losses.
In conclusion, the WOO X breach involved a sophisticated phishing attack compromising internal systems and nine user accounts, resulting in losses exceeding $14 million across Bitcoin, Ethereum, Binance Smart Chain, and Arbitrum networks. The platform has suspended all withdrawals for a comprehensive review of system vulnerabilities and pledged full reimbursement while investigating the incident and improving security measures [1][2][3][4][5].
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