WOO X continues to freeze withdrawals as hack details emerge
The Taiwan-based crypto exchange WOO X still hasn’t lifted its temporary withdrawal ban after $14 million in crypto was stolen from users of the exchange via a phishing attack.
The exchange’s latest statement on X (formerly Twitter) said it would provide an update once it has reopened its withdrawal systems. It also revealed that a phishing attack targeting one of its employees gave way to the hack that stole from nine user accounts.
WOO X said that, despite its “many security measures” limiting the exploiters’ access, they were still given the time to “coordinate a series of withdrawals from the user accounts.”
However, six hours after this statement was released, no further update has been provided. The hacker also reportedly began requesting withdrawals at 13:50 UTC +8, until they were eventually halted almost 2 hours later.
Read more: Crypto exchange WOO X suspends withdrawals, users hacked for $14M
Although WOO X has already temporarily frozen withdrawals, it also announced that a list of tokens, including Melania, Fartcoin, Trump, and Pengu, will also face temporary withdrawal freezes, mainly on the Solana network.
The exchange has previously suffered liquidity issues in 2023 when its market maker, Kronos Research, halted its trading after somebody exploited its API keys to steal $26 million.
WOO X then took the decision to halt its markets, which it claimed would “protect users positions from a lack of liquidity,” since Kronos Research was the crypto exchange’s largest provider of liquidity.
Protos has reached out to WOO X, and its support team told us that the exchange will provide further updates in its social channels once the investigation is fully completed.
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