An attacker seized owner privileges over the smart contract that issues WEMIX's dollar-pegged stablecoin on July 26, abnormally minting around $6.25M worth of tokens.

The freshly minted stablecoin was swapped into WEMIX and USDC, and roughly $724K was bridged off WEMIX 3.0 to Ethereum and BNB Chain before it could be stopped. No user wallets were compromised.

In response, WEMIX suspended all WEMIX 3.0 bridges (including Chainlink CCIP and the PLAY Bridge), paused affected liquidity pools and the stablecoin module, flagged the attacker's addresses and asked exchanges to freeze the funds. Blockchain security firms are tracing the flows.

It is the network's second major security incident in about 18 months, after roughly $6M was drained from the Play Bridge Vault in February 2025.