Crypto Exchange WOO X Loses $14M After Team Member Falls for Phishing Attack
Main Idea
Cryptocurrency exchange WOO X lost $14 million due to a phishing attack on a team member, highlighting the increasing security threats in the crypto industry.
Key Points
1. WOO X suffered a $14 million security breach on July 24, 2025, after a team member’s device was compromised in a targeted phishing attack.
2. User funds and trading were unaffected, but withdrawals were temporarily paused during the investigation.
3. Web3 projects lost $3.1 billion to exploits and scams in the first half of 2025, with phishing attacks accounting for over $410 million in 132 incidents.
4. Ethereum was the most targeted blockchain, experiencing 175 security events and over $1.6 billion in losses.
5. Physical violence against crypto holders escalated in 2025, with at least 32 'wrench attacks' reported globally, including kidnappings targeting family members of crypto holders.
Description
Cryptocurrency exchange WOO X suffered a $14 million security breach on July 24, 2025, after a team member’s device was compromised in a targeted phishing attack that allowed unauthorized access to nine user accounts and the platform’s development environment. The exploiter coordinated a series of unauthorized withdrawals from affected user accounts between 13:50 UTC +8 and 15:40 UTC +8, when the attack was discovered and halted. We're currently investigating a contained incident that occurred o...
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