WEMIX Security Incident: Attackers Exploit Public Smart Contract Vulnerability

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WEMIX disclosed a security incident involving its WEMIX$ token, triggered by a vulnerability in a public smart contract. On July 26, attackers gained control of two smart contracts—DIOS and AMA—and deployed a malicious contract in a single transaction. They executed nine rounds of flash loans and swaps, illegally minting 5,225,524.9997 WEMIX$. The incident underscores the importance of contract security and did not involve a compromise of WEMIX’s internal systems or private keys.

PANews, July 30: WEMIX has released an analysis of the cause and updated response to the WEMIX$ security incident. On July 26, ownership of two smart contracts was transferred to an unauthorized third party. The affected contracts were DIOS, designed to maintain the price stability of WEMIX$, and AMA, intended to enable 1:1 redemption of WEMIX$ for collateral assets. The attacker deployed a malicious contract in a single transaction, gained control over both contracts, and executed nine rounds of flash loans and swap transactions, resulting in the unauthorized minting of 5,225,524.9997 WEMIX$. This incident did not involve a breach of WEMIX’s internal systems or leakage of administrator private keys, but rather exploited vulnerabilities in publicly accessible on-chain smart contracts.

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