In a shocking incident, hackers breached the popular blockchain gaming platform WEMIX last month, stealing 8,654,860 WEMIX tokens. At the time of the attack, these stolen tokens were worth approximately $6.1 million.
WEMIX, known for integrating blockchain technology into gaming with play-to-earn (P2E) models and NFT-based ownership, confirmed the breach during a press conference held by its CEO on March 18, 2025. The hack occurred on February 28, 2025, but the company chose to delay public disclosure.
According to the CEO, the delay was not an attempt to cover up the incident. Instead, the company wanted to protect its players and the platform from further damage. The firm feared that revealing the breach immediately could have invited more attacks or caused market panic, especially since the hackers had already started selling the stolen tokens, impacting the token’s value.
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How the Hack Happened
The breach was traced back to NILE, an NFT platform associated with WEMIX. Hackers managed to steal authentication keys used for monitoring services. These keys gave them access to the platform’s internal systems.
While WEMIX has not yet identified how the hackers obtained the keys, they believe it may have happened through a shared repository. A developer had reportedly uploaded the keys there for convenience, making them vulnerable to theft.
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Once the attackers had the keys, they spent two months carefully planning their heist. During this time, they analyzed the system, identified weak points, and prepared for the theft. On the day of the attack, they attempted fifteen withdrawals, out of which thirteen were successful.
After stealing the WEMIX tokens, the hackers quickly moved them through cryptocurrency exchanges to launder the stolen funds. Laundering makes it difficult for authorities to trace or recover the tokens, as hackers mix them with other assets and transfer them across multiple wallets.
The Aftermath and Current Status
As soon as WEMIX detected the breach, they shut down the affected server to prevent further losses. The company immediately filed a criminal complaint with the Seoul Metropolitan Police Agency’s Cyber Investigation Unit. The National Office of Investigation is also actively investigating the incident.
To strengthen security and prevent future attacks, WEMIX is migrating all of its blockchain infrastructure to a new, more secure environment. During this process, the platform has been taken offline, disrupting all services. The company aims to fully restore operations by March 21, 2025.
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However, the damage to WEMIX’s reputation has already begun. The Digital Asset Exchange Alliance (DAXA), which regulates major cryptocurrency exchanges in South Korea, designated WEMIX as an “investment caution” asset. This label signals potential risk for investors. As a result, deposits of WEMIX tokens were suspended, further affecting the platform’s credibility.
WEMIX plans to appeal the designation, but the attack has already impacted the blockchain gaming industry. Millions were stolen, and the platform’s disruption highlights the vulnerabilities in the growing blockchain gaming sector.
