Shiba Inu Price Tanks 10% After WazirX Hack Implicates $100M in SHIB
According to blockchain analyst Lookchain, 5.43 trillion SHIB tokens worth $102 million were stolen in the hack.
News of the WazirX hack spread rapidly, causing Shiba Inu (SHIB), a well-known memecoin, to drop by 10% within a few hours, from $0.00001886 to $0.0000174.
According to blockchain analyst Lookchain, 5.43 trillion SHIB tokens worth $102 million were stolen in the hack, making it the largest among other stolen tokens such as ETH, MATIC, PEPE, and USDT. These cryptocurrencies have also seen price declines following WazirX’s security breach.
The latest update reveals that the hacker has already sold $618,000 worth of SHIB tokens, leaving $95.4 million worth of SHIB in their wallet. SHIB’s price decline in the wake of the WazirX hacking incident continues its ongoing correction trend, heightening concerns within the crypto community.
Arkham Intelligence has offered a bounty of 5000 ARKM (~$8000) for information related to the WazirX hacker.
In no time, crypto sleuth ZachXBT has claimed the bounty, providing clear evidence linking the hacker to a KYC-verified deposit address used to receive funds from the WazirX exploit.
This massive cyberattack on WazirX could cause turmoil in the crypto market, with many investors and traders fearing a sharp drop in the affected cryptocurrencies.
Also Read: Half Of Investors’ Funds Gone From WazirX In Massive Breach
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