WEMIX Stablecoin Admin Exploit (July 2026)

2025-02-28

WEMIX Play Bridge Vault hacked; approximately 8.65 million WEMIX tokens (~$6.1-6.2 million) stolen after authentication keys were compromised via a shared developer repository. Wemade delayed public disclosure by approximately four days.

2025-05-02

DAXA (South Korea's Digital Asset eXchange Alliance) announced the delisting of the WEMIX token from South Korea's five major exchanges, effective June 2, 2025, citing token circulation disclosure failures and the handling of the 2025 hack. WEMIX token briefly fell over 60%.

2025-06-02

WEMIX token delisted from Upbit, Bithumb, Korbit, Coinone, and Gopax per DAXA decision.

2026-03-01

WEMIX began transitioning from its native WEMIX$ stablecoin to USDC.e on its WEMIX3.0 network, requiring contract redeployments and permission reconfigurations that analysts later noted may have introduced new attack surfaces.

2026-07-26

At approximately 18:17 KST (09:17 UTC), an unidentified attacker exploited compromised owner-level administrative privileges on the WEMIX$ stablecoin smart contract, minting approximately 5,225,525 unauthorized WEMIX$ tokens (~$5.22 million).

2026-07-26

Attacker swapped minted WEMIX$ for approximately 30,736 WEMIX tokens and 724,198.27 USDC.e on a DEX, then bridged the USDC.e to Ethereum and BNB Smart Chain and dispersed into ETH, USDT, and other assets across multiple wallets.

2026-07-27

WEMIX publicly disclosed the exploit approximately 15 hours after the incident. The foundation suspended all WEMIX3.0 bridges (Chainlink CCIP and PLAY Bridge), froze affected liquidity pools, halted the PNIX DEX and WEMIX$ conversion module, withdrew foundation liquidity from DeFi protocols, and requested global exchange asset freezes.

2026-07-27

Wemixfi's total value locked (TVL) fell by approximately 66% following emergency liquidity withdrawal and service suspensions.