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WEMIX plans to support WEMIX$ to USDC swap by H1 2025 Blockchain gaming platform WEMIX has announced on its official website plans to enable a 1:1 exchange of WEMIX$ for USDC via a Peg Stability Module (PSM) by the first half of 2025. To ensure stability, the foundation will

Wemix says delay in disclosing $6.2 million hack was to prevent panic: report

🚨 *Wemix Denies Cover-Up Amid Delayed $6.2M Bridge Hack Announcement* 🚨 Wemix Foundation CEO Kim Seok-hwan has denied allegations of a cover-up regarding a hack on its bridge, which resulted in losses of over $6 million 💸. The hack occurred on February 28, but the company only made an official announcement four days later 📆. *Delayed Announcement Sparks Concerns* 🤔 The delayed announcement has raised concerns among investors, with the WEMIX token plummeting by nearly 40% between the day of the attack and the company's breach announcement 📉. Kim attributed the delay to the possibility of further attacks and a desire to avoid causing panic in the market 😬. *Hack Details Revealed* 🕵️‍♂️ According to Kim, the hacker stole the authentication key for the company's service monitoring system, allowing them to create abnormal transactions 🤖. The hacker spent two months preparing before attempting to withdraw funds 15 times, succeeding in 13 withdrawals and stealing 8.6 million WEMIX tokens 📊. *Investigation Underway* 🚔 Kim confirmed that the company has filed a complaint with the Cyber Investigation Team of the Seoul National Police Agency and that an investigation is underway 🔍. *WEMIX Token Price Impact* 📊 The WEMIX token price dropped from $0.70 on February 27 to a low of $0.42 on March 4, following the hack announcement 📉. At the time of writing, the token trades at $0.58, still 17% below its pre-hack price 📊.$BTC

$WEMIX CEO cites potential follow-up attacks and market panic for delayed hack disclosure In response to criticism over the delayed disclosure of a 9 billion won ($6.2 million) hack, Kim Seok-hwan, CEO of WEMIX PTE. LTD., a Singapore-based Wemade subsidiary, said there was no…

WEMIX to recover stolen tokens and initiate buyback Blockchain game platform WEMIX $WEMIX announced on its official Telegram channel that it plans to recover the stolen WEMIX tokens using reserves held by the foundation and will also initiate a token buyback. The company added that it will resume its Play Bridge service as soon as a security review is completed. Earlier, WEMIX reported that approximately 8,654,860 tokens were abnormally withdrawn from its Play Bridge Vault due to a malicious external attack on Feb. 28.