South Korean blockchain gaming platform WEMIX was hacked last month, resulting in the theft of approximately $6.1 million worth of cryptocurrency. The attack, confirmed by CEO Kim Seok-Hwan during a press conference, involved the theft of 8,654,860 WEMIX tokens.
The incident, which occurred on February 28th, 2025, wasn’t publicly disclosed immediately.
“As soon as we identified the hack on February 28, we immediately shut down the affected server and began a detailed analysis. On the same day, we filed a criminal complaint with the Seoul Metropolitan Police Agency’s Cyber Investigation Unit, and the National Office of Investigation is currently conducting an investigation.” Kim Seok-Hwan explained the delay.
“Since the exact infiltration method was not initially identified, an immediate public disclosure could have exposed us to further attacks. Additionally, most of the stolen assets had already been sold, impacting the market. Given the difficulty in guaranteeing that there were no further risks, an immediate disclosure could have caused market panic.”
The attackers gained access to WEMIX by stealing authentication keys used for monitoring services on the NFT platform ‘NILE.’ Wemade, the parent company of WEMIX, suspects the keys were obtained through a compromised shared repository where a developer had uploaded them.
The hackers meticulously planned their attack over two months, attempting fifteen withdrawals, thirteen of which were successful. The stolen WEMIX tokens were swiftly laundered through cryptocurrency exchanges.
Currently, WEMIX is offline while its blockchain infrastructure undergoes migration to a more secure environment. The company aims to fully restore services by March 21st, 2025. The Digital Asset Exchange Alliance (DAXA) has designated WEMIX as an “investment caution” asset and suspended deposits—a decision WEMIX intends to appeal.
WEMIX Hack highlights the vulnerabilities inherent in blockchain platforms and the importance of robust security measures, especially given the increasing prevalence of Ransomware. This attack underscores the need for enterprises to implement strong security practices to protect against similar cyberattacks. Understanding the top cyber threats facing enterprise businesses in 2025 is crucial for mitigating future risks.
WEMIX Hack Impact on the Ecosystem
WEMIX, a blockchain-based gaming platform, incorporates its cryptocurrency, the WEMIX token, and integrates blockchain technology into its games. It offers play-to-earn (P2E) models, NFT-based ownership, and decentralized finance (DeFi) features. Wemade, known for its game “The Legend of Mir,” has focused on blockchain-integrated titles since launching WEMIX, with MIR4 boasting over five million downloads on Google Play alone.
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