Cryptocurrency trading platform WOO X suspended all withdrawal services on Thursday after hackers stole $14 million from user accounts. The security breach affected nine customer wallets through unauthorized withdrawals across multiple blockchain networks.
The exchange’s security team detected the attack quickly and implemented emergency measures to prevent further losses. WOO X blocked many withdrawal attempts before hackers could complete the transactions.
Initial reports from blockchain security firm Cyvers estimated losses at $12 million. WOO X later confirmed the actual amount stolen was $14 million.
The hackers targeted funds on Bitcoin, Ethereum, Binance Smart Chain, and Arbitrum networks. The breach affected individual user accounts rather than company-controlled wallets.
WOO X contacted all affected users shortly after discovering the breach. The platform assured customers that it would cover all unauthorized withdrawals from the hack.
“The incident was quickly detected, and as a precaution, withdrawals were paused,” the WOO X team stated on social media platform X. The exchange emphasized that many withdrawal attempts were successfully blocked.
The platform has not provided a timeline for when normal withdrawal services will resume. Security remains the top priority as the team conducts a comprehensive review of all systems.
WOO X is working with blockchain security firm Seal911 to track the stolen assets. The exchange is also collaborating with Hypernative and other security teams to identify the hackers’ on-chain wallets.
The WOO X breach adds to a growing list of cryptocurrency exchange hacks in July 2025. Total losses from crypto hacks have exceeded $3.1 billion this year according to security firm Hacken.
Indian exchange CoinDCX lost $44 million on July 19 when hackers targeted an internal liquidity provision account. The exchange launched a White Hat bounty program offering up to 25% of recovered funds as rewards.
BigONE exchange suffered a $27 million loss on July 16 through a hot wallet breach. The platform confirmed the attack came from external third parties targeting their storage systems.
Arcadia Finance, a decentralized finance platform, lost $3.5 million on June 15. Attackers exploited vulnerabilities in Arcadia’s Rebalancer smart contract to drain user funds.
Access control exploits remain the most common attack method in 2025. These breaches allow hackers to bypass security measures and gain unauthorized access to funds.
The WOO X team continues investigating how hackers compromised the nine user accounts. The exchange has not revealed specific details about the attack method used in Thursday’s breach.
