Wemix denied the cover-up in the midst of the delay of $ 6.2M bridge hack announcement
Wemix Foundation CEO Kim Seok-Hwan said they had no intention of hiding a hack on its bridge, which led to more than $ 6 million in losses.
At a press conference, Kim reported Says There was no attempt to cover the incident, even though the audience pointed to the announcement was delayed.
In Feb. The company made only an official announcement four days after the attack.
According to Kim, the announcement was delayed due to the possibility of further attack and to prevent the cause of the market in the market due to stolen ownership.
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Wemix CEO outlined the risks of premature announcement
Wemix said the hacker broke their system by stealing the validation key for the Nile’s company tracking system monitoring system, the non -generated token platform (NFT).
After the robbery, the hacker spends two months preparing before randomly creates abnormal transactions. Hackers attempted to remove 15 times but only succeeded in 13 removal, eliminating 8.6 million Wemix tokens and selling them to exchanges outside South Korea.
Kim explained that in recognition of the hack, they immediately closed their servers and started their review.
The executive added that they filed a complaint against an unidentified hacker with the Seoul National Police Agency’s Cyber Investigation Team. The CEO of Wemix said the authorities have begun investigating this matter.
Kim said there is a risk of making a premature announcement. The CEO said that in a situation where the penetration procedure was not identified, they could be exposed to further attack.
Kim reiterated that the market has already seen some effects from the soldiers’ sales, and they risk the panic seller if they announce it right away.
During the statement, the executive apologized to the wemix investors, saying that the delay in disclosure was his call and he should be responsible for something wrong.
Wemix token drops 39% in the middle of hack announcement
Despite the attempt to prevent the cause of the market in the market, the Wemix token dropped nearly 40% from the day of exploitation until March 4, when the company finally announced the hack.
The price came from $ 0.70 on Feb. 27 to low $ 0.52 in Feb.
Wemix token price chart. Source: Coingecko
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