World Mobile Confirms Unauthorized WMTx Minting in SingularityNET Bridge Exploit

World Mobile Chain confirmed that an exploit of the SingularityNET bridge resulted in unauthorized WMTx minting on Ethereum. The project linked the incident to recent price movements across exchanges listing the token and began coordinating with trading platforms and security partners.

The announcement identifies Ethereum as the affected network. It does not report a compromise of Cardano, Cardano wallets or World Mobile’s Cardano staking infrastructure.

SingularityNET Bridge Exploit Created WMTx on Ethereum

According to World Mobile, the exploit allowed an unauthorized party to mint $WMTX on Ethereum. The initial notice did not disclose the amount created, the attacker’s address, transaction hashes or the technical weakness that enabled the incident.

Unauthorized issuance can expand the supply available for trading if the tokens reach exchanges or decentralized markets. World Mobile said the exploit caused price movements across all exchanges where WMTx is listed, but did not quantify the market impact.

The project is contacting exchanges and other relevant parties to freeze affected deposits. Security partners are also working to revoke minting authorities and prevent further unauthorized issuance.

World Mobile Identifies Ethereum as the Affected Network

WMTx is the cross chain utility token of the World Mobile ecosystem. It is used as the gas token for World Mobile Chain and supports staking and network governance.

World Mobile Chain is an EVM compatible Layer 3 built on Base for decentralized telecommunications. Its infrastructure connects EarthNodes, AirNodes and other services used to process network activity and support community operated connectivity.

World Mobile also maintains a direct connection with Cardano. Its official staking system supports Cardano based WMTx through the World Mobile Vault, while the EVM version can be staked through compatible Web3 wallets.

The security notice does not identify the Cardano version of WMTx or its staking system as compromised. However, unauthorized issuance on Ethereum can affect holders across supported networks because exchanges price and trade the asset as part of the same wider market.

World Mobile Moves to Contain Unauthorized Supply

World Mobile said it is coordinating with exchanges to freeze affected deposits, working with security partners to remove minting authorities and monitoring related activity.

The team also warned users about unsolicited messages, fake support accounts, recovery services, claim portals and token migration links. World Mobile stated that @wmchain is the only official source for updates about the incident.

The project has not reported whether the unauthorized tokens reached exchanges, how much remains under the attacker’s control or whether any assets have been recovered. It has also not explained how the excess $WMTX supply will be isolated, burned or reconciled across supported networks.

The remaining scope depends on the number of tokens created, the addresses and transactions involved, and confirmation that all exposed minting access has been disabled. Until World Mobile publishes those details, the incident is confirmed as an Ethereum side bridge and minting failure, while Cardano has not been identified as compromised.