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| Crypto Exchange |
WOO X, BigONE, and CoinDCX suffer major breaches, exposing systemic vulnerabilities in digital asset platforms.
Multiple Exchanges Breached in Just Two Weeks
Crypto exchange hacks have exceeded $300 million in losses within two weeks, underscoring rising concerns about platform security. The most recent victim, Taiwanese exchange WOO X, halted all withdrawals after $14 million was stolen from nine user accounts. WOO X has pledged to reimburse all affected users and is currently conducting a full security audit.
DeFi and Centralized Targets Alike
Earlier this month, DeFi protocol Arcadia Finance lost $3.5 million, followed by a $27 million hot wallet breach at BigONE. Days later, India’s largest crypto exchange CoinDCX reported a $44 million outflow. CoinDCX responded by launching a white-hat bounty program offering 25% of recovered assets to incentivize hacker returns.
Total Losses Cross $3.1 Billion in 2024
As of July, total losses from crypto exchange hacks in 2024 have surpassed $3.1 billion. These repeated breaches spotlight ongoing security gaps in both centralized exchanges and decentralized platforms. Meanwhile, WOO X continues to review its internal controls ahead of reopening withdrawals.
🧠 Coin Market 24/7 Commentary
These crypto exchange hacks reveal a troubling pattern of underpreparedness among major players. The rising frequency of security failures will likely accelerate regulatory scrutiny and increase demand for institutional-grade custody. In this environment, zero-trust architecture and real-time monitoring may become Web3’s next baseline.