World Mobile Links WMTx Exploit to Stolen Bridge Key

World Mobile has disclosed new details about the security incident that enabled unauthorized WMTx minting on Ethereum. Watkins linked the attack to a stolen key used to authorize transfers between Cardano and Ethereum, while confirming that the Cardano contract and Cardano-based WMTx were not compromised.

Stolen Key Enabled Unauthorized Token Minting

According to Watkins, the attacker obtained a signing key used to authorize transfers through the SingularityNET bridge. The compromised access enabled unauthorized minting across several tokens connected to the bridge infrastructure, including $WMTX.

Public on-chain investigations identified approximately 53.8 million unauthorized WMTx tokens minted on Ethereum. The same attack cluster has been linked to unauthorized AGIX, NTX and CGV issuance, as well as the earlier removal of approximately 8.7 million FET from a Fetch.ai converter.

Watkins called on SingularityNET and its founder, Ben Goertzel, to publish a complete root cause report, address the impact on affected projects and cooperate with law enforcement. World Mobile reported the incident to authorities in Switzerland and the British Virgin Islands.

SingularityNET had not published a final technical report at the time of Watkins' address. The method used to compromise the key, the duration of the unauthorized access and responsibility for managing the affected credentials have not been publicly documented.

World Mobile also began coordinating with exchanges while security teams worked to prevent further unauthorized minting. Watkins said trading had been suspended on most exchanges at the time of his update, with the next steps dependent on cooperation from individual platforms.

Cardano WMTx Contract Remained Unaffected

WMTx is the utility token of World Mobile, a decentralized telecommunications ecosystem connecting users, AirNode operators and EarthNode infrastructure. It supports network fees, staking and participation in the World Mobile economy.

The SingularityNET bridge was developed to move WMTx between Cardano and Ethereum through a minting and burning mechanism. Original integration documentation described a dedicated Cardano module for signing bridge transactions, while the Ethereum side used a minter role to create the corresponding token supply.

Within this architecture, a signing key confirms that an event on one network justifies minting or releasing tokens on another. Control of that key can allow a receiving contract to accept a technically valid authorization without a legitimate locking or burning event behind it.

Watkins confirmed that the Cardano WMTx contract, Cardano wallets and World Mobile's Cardano staking system were not compromised. The unauthorized supply was created through the Ethereum side of the bridge infrastructure.

Cardano holders were still exposed to the wider market impact because exchanges and data providers treat the different network versions as parts of the same asset. Unauthorized issuance on Ethereum can therefore affect pricing and liquidity across supported networks without altering the Cardano token policy.

World Mobile Reviews Third-Party Bridge Dependence

Watkins said World Mobile can no longer depend on bridge infrastructure controlled by another organization without stronger oversight of its security. The company will assess its options after the investigation, including how future cross-chain connections should be managed.

World Mobile has not announced a departure from Cardano. Asked whether the project could move entirely toward EVM networks, Watkins did not provide a final decision but confirmed that users would retain an option to hold $WMTX on Cardano. The future method for transferring the token between Cardano and other networks has not been defined.

Watkins also stated that the incident would not delay World Mobile's telecommunications rollout, AirNode deployments, EarthNode testing or planned mainnet operations. He said the company does not rely on continuous token sales to finance its business, while customers continue using its mobile services independently of the bridge.

The recovery process now depends on exchange coordination, identification of the unauthorized supply and publication of the technical findings. A separate infrastructure decision will determine how Cardano-based WMTx can connect with the EVM ecosystem without recreating the same dependence on the compromised bridge.