On July 24, 2025, WOO X, led by CEO Jack Tan, experienced a $14 million security breach impacting user accounts and hot wallets across multiple networks.
This incident highlights ongoing security challenges in the crypto industry, prompting WOO X to prioritize user compensation and platform stability.
WOO X exchange addresses $14M breach, pledging full user compensation while investigating attacker strategies.
The $14 million security breach impacted WOO X, targeting both user accounts and the exchange’s hot wallets. The breach, which took place in July 2025, involved a phishing attack that compromised nine user accounts.
WOO X Faces $14M Security Breach
WOO X, led by Jack Tan and Mark Pimentel, managed the response. They assured full compensation to affected users. All platform activities were briefly restricted, focusing on security reviews and strengthening defenses.
“WOO X will fully compensate all affected users and has reached out directly to the nine accounts impacted by the incident. Withdrawals were suspended as a precaution and have been reopened following forensic review.” – Support Team, WOO Xhttps://twitter.com/_WOO_X/status/1948400223761342920
Community Reaction to Breach and Response
WOO X halted withdrawals temporarily for a security review, ensuring user funds’ safety. This breach adds to the series of 2025 crypto exchange incidents. The community expressed a mix of concern and appreciation for the prompt response.
This attack reflects the rising trend of phishing in 2025, with overall industry losses reaching $600 million. Experts note on-chain evidence showing funds routed across multiple networks, highlighting sophisticated strategies by attackers.
https://twitter.com/_WOO_X/status/1948573397178339577First Half of 2025 Sees Rising Phishing Attacks
Similar breaches in 2025 demonstrate a pattern of exploiting exchanges via phishing. Total losses for the sector in the first half of 2025 have surpassed the entirety of 2024, underscoring the present vulnerabilities.
Insights from Kanalcoin suggest that effectively adapting regulatory standards and enhancing technological infrastructure are key in curbing future losses. Ongoing analysis promotes further adoption of multi-layered security protocols.
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