In a statement released on July 24, 2025, WOO X, led by CEO Jack Tan and Mark Pimentel, confirmed a significant security breach impacting user accounts and hot wallets across multiple cryptocurrency networks. The incident, attributed to phishing attacks that compromised nine user accounts, resulted in a loss of $14 million. To address the situation and ensure complete user compensation, WOO X has halted platform withdrawals while conducting a thorough forensic investigation of attacker strategies. [Full compensation information for affected users will be provided directly]. Following this review, withdrawal functionality was restored. The exchange also took proactive steps to bolster security measures by temporarily restricting all platform activities to address any potential vulnerabilities and strengthen defenses against future attacks. The incident underscores the growing concern surrounding cybersecurity in the rapidly evolving crypto industry.