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Crypto

Wemix dollar authority takeover caused by proxy contract initialize flaw

Wemix Team said it identified a proxy-structure smart contract initialize-function flaw as the cause of a July 26 takeover of administrative rights over two Wemix dollar-related contracts. The attacker changed administrator addresses, obtained minting and swap permissions and minted 5,225,524.9997 WEMIX$ through repeated flash loans and swaps. Confirmed losses transferred externally were 723,244.4936 USDC.e and 34,752.3199 WEMIX. Services are to resume sequentially.

Crypto

Wemix Dollar contract admin rights stolen, 5.23 million tokens abnormally minted

Administrator rights to the Wemix Dollar (WEMIX$) stablecoin contract in the WEMIX ecosystem were stolen, leading to the abnormal minting of about 5.23 million tokens. The Wemix team halted Wemix 3.0 internal and external bridges, related liquidity pool trading, and some services. Minted WEMIX$ was swapped into WEMIX and USDC.e and moved via bridges to Ethereum and BSC, with some assets reaching centralized exchanges.

Crypto

Wemix lists on U.S. crypto exchange Kraken, steps up push into Western markets

Wemix, a virtual asset issued by the Wemix Foundation, has officially listed on the U.S. cryptocurrency exchange Kraken, the industry said on Tuesday. The listing allows Kraken users worldwide to trade Wemix in U.S. dollars. The company aims to expand its real-world asset initiative and attract new ecosystem participants using global capital. Wemix also highlighted StableNet and the GAKS alliance as part of its infrastructure buildout.