Jeremy(@Jeremybtc):A hacker seized control of a stablecoin's contract and minted $5 MILLION of it out of nothing. The token is WEMIX Dollar, the first dollar stablecoin from a Korean gaming company. A stablecoin is only supposed to hold its value because every coin has a real dollar sitting in reserve behind it. This attacker seized the admin rights, minted 7.6 BILLION won of brand new coins with nothing backing them, and siphoned the money out before anyone could react. It's the second time the company has been hit in under two years. Last year a stolen key drained 8.65 MILLION WEMIX tokens worth $6 MILLION, and the price crashed 40%.

2026.07.27 02:15

A hacker seized control of a stablecoin's contract and minted $5 MILLION of it out of nothing. The token is WEMIX Dollar, the first dollar stablecoin from a Korean gaming company. A stablecoin is only supposed to hold its value because every coin has a real dollar sitting in reserve behind it. This attacker seized the admin rights, minted 7.6 BILLION won of brand new coins with nothing backing them, and siphoned the money out before anyone could react. It's the second time the company has been hit in under two years. Last year a stolen key drained 8.65 MILLION WEMIX tokens worth $6 MILLION, and the price crashed 40%.