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🚨 Taiwan-based crypto exchange @_WOO_X has temporarily frozen withdrawals after $14M worth of crypto was stolen from 9 users in an apparent hack.
Security analysts @CyversAlerts confirmed the "unauthorized withdrawals" were sent to the hacker's wallet before being moved... 🧵
WOO X is working with "external security teams and other exchanges to halt the flow of funds" and has shared the exploiter's wallet addresses.
However, it remains unclear how the hackers were able to access the accounts and extract the funds from the exchange.
The exchange has reached out to affected users and promised that "all unauthorized withdrawals will be fully covered."
⚠️ Withdrawals remain suspended while WOO X completes its internal review, with updates promised when withdrawals are re-enabled ⤵️
25.7. klo 01.24
🚨 Crypto exchange WOO X suspends withdrawals, users hacked for $14M
⤵️
25.7. klo 10.37
Update 3: The exploit stemmed from a team member device being compromised in a targeted phishing attack, allowing the exploiter to gain access to the development environment. Many security measures limited the access, but gave the exploiter time to coordinate a series of withdrawals from the user accounts mentioned in the previous message.
The exploiter requested the first withdrawal at 13:50 UTC +8
Subsequent withdrawal requests came in gradually and the exploit was discovered and halted at 15:40 UTC
The team is in the process of a complete forensic review and is prioritizing the re-opening of withdrawals for all users
We will update here as soon as that's completed
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