BREAKING: WOO X Loses $14M in Hack—Exchange Freezes Withdrawals Amid Chaos
Another day, another crypto exchange with a 'Fort Knox' complex gets humbled. WOO X just joined the club.
Here's the damage:
• $14 million vanished faster than a DeFi rug pull
• Withdrawals frozen—because nothing says 'trust us' like locking users' funds after a breach
The exploit details? Sketchier than a memecoin whitepaper. No word yet on whether it was an inside job, a compromised API, or just another Tuesday in crypto.
Meanwhile, traders are left holding bags of IOUs—proving once again that 'not your keys, not your coins' isn't just a mantra, it's a survival guide.
Silver lining? At least it wasn't a nine-figure heist. Progress, sort of.
TLDR
- WOO X Hack Hits $14M, Withdrawals Halted, Users Promised Full Reimbursement
- WOO X Breach Hits Multi-Chains, $14M Lost, Withdrawals Suspended
- $14M WOO X Hack Spans BTC, ETH, BNB, ARB; Exchange Freezes Withdrawals
- WOO X Suffers $14M Hack, Blames Sophisticated Multi-Chain Exploit
- WOO X Halts Withdrawals After $14M Hack, Security Review Underway
A security breach at centralized crypto exchange WOO X led to a $14 million loss from user accounts. The platform suspended withdrawals after detecting unauthorized activity on Thursday. According to the company, the breach impacted nine user-controlled accounts and not any internal or corporate wallets.
The hack triggered immediate actions, including a pause on withdrawals to contain further damage. While initial estimates indicated a $12 million loss, the final figure ROSE to $14 million. The company informed affected users and confirmed that all stolen funds will be reimbursed.
Though the precise cause remains unknown, WOO X maintains that the incident is isolated. External blockchain security teams are assisting in the investigation. WOO X is reviewing both on-chain and off-chain security procedures.
BTC and ETH Transactions Show Early Signs of Breach
Blockchain activity revealed early unauthorized movements on Bitcoin and ethereum networks linked to the WOO X hack. Analysts from Cyvers tracked abnormal transfers that were later linked to the attacker’s wallets. These transfers involved direct withdrawals and token swaps.
🚨ALERT🚨Our system has detected multiple suspicious transactions with an estimated loss of more than $12M involving @_WOO_X among $BTC, $ETH, $BNB, and $ARB networks.
Suspicious address on $ETH received $1M $USDT from WOO’s hot wallet, with additional $ETH.
The full $1M in… pic.twitter.com/XSvuwCOsZ7
— 🚨 Cyvers Alerts 🚨 (@CyversAlerts) July 24, 2025
Roughly $1 million was converted into ETH before being moved to a separate address. This movement raised initial red flags among monitoring firms. The attacker then moved an additional $7.3 million to another new Ethereum address.
WOO X worked with firms like Seal911 and Hypernative to identify suspicious addresses. The company shared these wallet addresses publicly to prevent further transactions. Meanwhile, investigations are ongoing across the affected blockchain networks
BNB and ARB Networks Also Compromised in Multi-Network Exploit
Besides Bitcoin and Ethereum, the breach extended to BNB and Arbitrum (ARB) blockchains. On the BNB Chain, five wrapped BTC tokens were converted into BNB. The attacker sent those assets to a newly generated wallet address.
Cyvers analysts confirmed multiple token swaps and movements across different blockchains. Such cross-network exploits suggest the use of automated tools and pre-planned wallet routing. The breach shows increasing sophistication in targeting multiple assets simultaneously.
WOO X continues to cooperate with other exchanges to freeze and recover stolen assets. While withdrawals remain suspended, most attempted withdrawals were reportedly blocked in time. The exchange assured users of full reimbursement for unauthorized transactions.
Platform Reviews Security While Trading Volume Spikes
WOO X began a comprehensive internal security review. The company stated there is no timeline for resuming withdrawals. Restoring security is the platform’s current priority before normal operations.
WOO X reported a 264.8% increase in trading volume within 24 hours. This surge highlights continued platform usage amid uncertainty. However, the breach raises fresh questions around security standards at smaller centralized exchanges.
WOO X recently raised $9 million in funding. In 2023, it paused trading after a $25 million incident involving Kronos Research. This latest breach underscores ongoing vulnerabilities across centralized crypto platforms.
