Hackers hacked the WOO X cryptocurrency exchange for $14 million

On July 24, the cryptocurrency exchange WOO X suspended withdrawals after a hack in which attackers stole $14 million. The incident affected nine user accounts.

"We have already contacted the affected users and guarantee full reimbursement for all unauthorized deductions," said representatives of the platform.

During an internal investigation, it was revealed that one of the employees of WOO X fell victim to phishing. Cybercriminals gained access to his computer and the cryptocurrency exchange system. Some of the protections worked, but the hackers "managed to coordinate a series of withdrawals from user accounts."

According to Cyvers Alerts, the attackers first transferred $1 million in USDT from the WOO hot wallet to one of the addresses on the Ethereum network. Then all the funds were exchanged for ETH. Later, another $7.3 million was sent to another address. Meanwhile, in the BNB blockchain, 5 BTCB were withdrawn from the exchange, exchanged for BNB, and moved to a new wallet.

WOO X collaborates with external security experts and other exchanges to track and freeze stolen funds.

After the incident, trading volume on the crypto exchange increased by 145% — to $25.8 million.

Source: CoinGecko.Recall that on July 16, unknown individuals hacked the BigONE exchange for $27 million. Two days later, the Bitcoin exchange CoinDCX was attacked, resulting in a loss of $44 million.

According to a report by Hacken, losses from hacks and fraud for Web3 projects in the first six months of 2025 amounted to $3.1 billion. This amount has already surpassed the total for the entire year of 2024 — $2.85 billion.