Cybercriminals at Work: WOO X Cryptocurrency Exchange Suffers $14 Million Theft in Fresh hacks
In a series of unfortunate events in the world of cryptocurrency, WOO X, a popular trading platform, suspended all withdrawal services on Thursday after suffering a significant loss of $14 million. This breach, while substantial, is relatively moderate compared to some of the largest crypto exchange hacks historically.
The attack targeted individual user accounts rather than the exchange’s central wallets, marking a shift from many prior large-scale breaches. Nine user accounts across multiple blockchain networks, including Bitcoin, Ethereum, Binance Smart Chain, and Arbitrum, were affected by the unauthorized withdrawals.
WOO X acted swiftly to contain the damage, pausing withdrawals and blocking many attempted transactions. The platform pledged to cover all unauthorized losses and is working with blockchain security firm Seal911 to track the stolen assets. Additionally, WOO X is collaborating with Hypernative and other security teams to strengthen its systems.
Despite the quick detection and response, the specific details about the attack method used in Thursday's WOO X breach have not been revealed by the exchange. Access control exploits remain the most common attack method in 2025.
The total losses from crypto hacks in July 2025 have exceeded $3.1 billion, according to security firm Hacken. Other notable incidents include a $44 million hack on Indian exchange CoinDCX on July 19 and a $3.5 million loss by Arcadia Finance due to an attack exploiting vulnerabilities in their Rebalancer smart contract on June 15.
While a timeline for the resumption of normal withdrawal services has not been provided, WOO X has assured its customers that it will cover all unauthorized withdrawals from the hack. The platform is conducting a comprehensive review of all systems to prevent future incidents.
[1] WOO X Suspends Withdrawals After $14 Million Hack
[2] Crypto Hacks in 2025: A Growing Concern
[3] WOO X Hack: What We Know So Far
[4] WOO X to Cover Unauthorized Withdrawals Following Hack
[1] The financial sector, particularly the cryptocurrency industry, faced a significant setback as WOO X, a popular trading platform, suspended all withdrawal services due to a $14 million hack.
[2] In July 2025, the cryptocurrency industry witnessed a surge in crypto hacks, with total losses exceeding $3.1 billion, according to security firm Hacken.
[3] The WOO X breach, while relatively moderate compared to some of the largest crypto exchange hacks historically, targeted individual user accounts across multiple blockchain networks, including Bitcoin, Ethereum, and others.
[4] In an effort to reassure its customers, WOO X pledged to cover all unauthorized losses and is collaborating with various security firms to strengthen its systems, track the stolen assets, and prevent future incidents.
