WazirX
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WazirX Hack: $230 Million Loss Impacts SHIB, FET, MATIC
India's largest cryptocurrency exchange, WazirX, has suffered a major security breach, losing over $230 million in digital assets. The hack was first reported by Cyvers Alert, which detected a suspicious address swapping various crypto assets for Ethereum (ETH).
Impacted Assets
The assets impacted include Pepe (PEPE), GALA (GALA), Shiba Inu (SHIB), Fantom (FTM), Fetch.ai (FET), Floki Inu (FLOKI), Chainlink (LINK), Polygon (MATIC), and USDT. Notably, the attacker still holds over $100 million in SHIB and $4.7 million in FLOKI, which may be converted to Ether.
Response
WazirX has paused INR and crypto withdrawals and is actively investigating the breach. The attackers are suspected of moving the stolen assets to Tornado Cash, a crypto mixer.
Market Impact
The hack comes as the crypto market shows signs of recovery, potentially causing significant disruption. Impacted assets, especially Shiba Inu, are starting to retract from recent gains.
#WazirX #BTC
India's largest cryptocurrency exchange, WazirX, has suffered a major security breach, losing over $230 million in digital assets. The hack was first reported by Cyvers Alert, which detected a suspicious address swapping various crypto assets for Ethereum (ETH).
Impacted Assets
The assets impacted include Pepe (PEPE), GALA (GALA), Shiba Inu (SHIB), Fantom (FTM), Fetch.ai (FET), Floki Inu (FLOKI), Chainlink (LINK), Polygon (MATIC), and USDT. Notably, the attacker still holds over $100 million in SHIB and $4.7 million in FLOKI, which may be converted to Ether.
Response
WazirX has paused INR and crypto withdrawals and is actively investigating the breach. The attackers are suspected of moving the stolen assets to Tornado Cash, a crypto mixer.
Market Impact
The hack comes as the crypto market shows signs of recovery, potentially causing significant disruption. Impacted assets, especially Shiba Inu, are starting to retract from recent gains.
#WazirX #BTC
Indian 🇮🇳 crypto exchange WazirX potentially hacked 😱🤯
A total of ($230M+) assets have been stolen.
5.43T $SHIB($102M)
15,298 $ETH($52.5M)
20.5M $MATIC($11.24M)
640.27B $PEPE($7.6M)
5.79M $USDT ($5.79M)
135M $GALA($3.5M)
#WazirX
A total of ($230M+) assets have been stolen.
5.43T $SHIB($102M)
15,298 $ETH($52.5M)
20.5M $MATIC($11.24M)
640.27B $PEPE($7.6M)
5.79M $USDT ($5.79M)
135M $GALA($3.5M)
#WazirX
Hacker Dumping $234M from WazirX Crypto Exchange
Web3 security company Cyvers and ZachXBT reveal a possible attack of Indian crypto exchange WazirX. Cyvers warned WazirX on X, “Our system has detected multiple suspicious transactions involving your Safe Multisig wallet on the ETH network.”
Over $230 million stolen from WazirX
According to the X post, $234.9 million from the WazirX Safe Multisig wallet was moved to a new address. Tornado Cash, a decentralized mechanism for private transactions, financed each transaction's caller.
Cyvers said the hacker's address started crypto exchanges. Cyvers says, “The suspicious address has swapped PEPE, GALA, and USDT to ETH and continues to swap other digital assets.”
ZachXBT said in a Telegram message in the “Investigations by ZachXBT” channel that the attacker's address still has over $100 million to dump. ZachXBT says, “the Attacker still has $100M+ worth of SHIB and $4.7M+ FLOKI to sell.”
On-chain data shows the attacker possessed $100 million in Shiba Inu, $52 million in ETH, and $11 million in Polygon. The wallet address holds $3.2 million Fantom, $2.3 million Fetch.ai, $4.7 million FLOKI, and $2.8 million Chainlink.
Unlike other hackers who returned assets to exchanges, the WazirX hacker shows no remorse. The hacker made $618K in $SHIB in their first transaction within hours.
Lookonchain data shows the hacker has 5.4T $SHIB, worth over $95M.
The WazirX team halted crypto and INR withdrawals after the security compromise. X post WazirX said the team is “actively investigating the incident.”
WazirX said, “We’re aware that one of our multisig wallets has experienced a security breach. We are investigating the situation. To protect your valuables, INR and crypto withdrawals will be halted. I appreciate your patience. Future updates will be provided.”
#HACK #WazirX
Web3 security company Cyvers and ZachXBT reveal a possible attack of Indian crypto exchange WazirX. Cyvers warned WazirX on X, “Our system has detected multiple suspicious transactions involving your Safe Multisig wallet on the ETH network.”
Over $230 million stolen from WazirX
According to the X post, $234.9 million from the WazirX Safe Multisig wallet was moved to a new address. Tornado Cash, a decentralized mechanism for private transactions, financed each transaction's caller.
Cyvers said the hacker's address started crypto exchanges. Cyvers says, “The suspicious address has swapped PEPE, GALA, and USDT to ETH and continues to swap other digital assets.”
ZachXBT said in a Telegram message in the “Investigations by ZachXBT” channel that the attacker's address still has over $100 million to dump. ZachXBT says, “the Attacker still has $100M+ worth of SHIB and $4.7M+ FLOKI to sell.”
On-chain data shows the attacker possessed $100 million in Shiba Inu, $52 million in ETH, and $11 million in Polygon. The wallet address holds $3.2 million Fantom, $2.3 million Fetch.ai, $4.7 million FLOKI, and $2.8 million Chainlink.
Unlike other hackers who returned assets to exchanges, the WazirX hacker shows no remorse. The hacker made $618K in $SHIB in their first transaction within hours.
Lookonchain data shows the hacker has 5.4T $SHIB, worth over $95M.
The WazirX team halted crypto and INR withdrawals after the security compromise. X post WazirX said the team is “actively investigating the incident.”
WazirX said, “We’re aware that one of our multisig wallets has experienced a security breach. We are investigating the situation. To protect your valuables, INR and crypto withdrawals will be halted. I appreciate your patience. Future updates will be provided.”
#HACK #WazirX
5 Trillion Shiba Inu Coins Stolen in $230M WazirX Exchange Hack
Today, July 18, attention is once again focused on Shiba Inu coin, one of the largest meme coins by market cap. Recent on-chain data from Whale Alert shows that over 5 trillion SHIB coins were transferred from an Indian crypto exchange to another address.
This development has sparked widespread discussion in the cryptocurrency community, especially following reports of an exploitation attack on the Indian exchange.
WazirX Exchange Faces $102.12 Million Crypto Theft
According to Whale Alert’s on-chain data, a staggering 5.43 trillion coins valued at $102.12 million were illicitly transferred from India’s prominent crypto exchange, WazirX, today. The transaction, orchestrated by the whale address 0x04b21735, is linked to an exploiter responsible for draining over $230 million from the exchange in a recent hack.
The theft coincides with a recent visit by Shytoshi Kusama, lead developer of Shiba Inu coin, to Mumbai, India, adding intrigue to the unfolding situation. This convergence of events has sparked considerable discussion within the cryptocurrency community. Meanwhile, Shiba Inu coin experienced a decline in value today, signaling a pullback amidst the unfolding events.
Shiba Inu Coin Faces Price Decline Amid Market Volatility
At the latest update, SHIB’s price has dropped by 4.72% to trade at $0.00001858. Over the past 24 hours, the token saw lows of $0.00001856 and highs of $0.00001941.
Despite an impressive 874% increase in the burn rate, with nearly 8 million coins incinerated, SHIB remained in the red zone without significant price gains.
Today’s price decline reflects broader market trends, prompting speculation about a potential SHIB and overall market recovery. The Relative Strength Index (RSI) has edged toward the buying zone at 53, indicating SHIB is currently balanced without being overbought or oversold.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
#SHIB #ShibaInu #Memecoin #WazirX #WRX $WRX $SHIB $BTC
This development has sparked widespread discussion in the cryptocurrency community, especially following reports of an exploitation attack on the Indian exchange.
WazirX Exchange Faces $102.12 Million Crypto Theft
According to Whale Alert’s on-chain data, a staggering 5.43 trillion coins valued at $102.12 million were illicitly transferred from India’s prominent crypto exchange, WazirX, today. The transaction, orchestrated by the whale address 0x04b21735, is linked to an exploiter responsible for draining over $230 million from the exchange in a recent hack.
The theft coincides with a recent visit by Shytoshi Kusama, lead developer of Shiba Inu coin, to Mumbai, India, adding intrigue to the unfolding situation. This convergence of events has sparked considerable discussion within the cryptocurrency community. Meanwhile, Shiba Inu coin experienced a decline in value today, signaling a pullback amidst the unfolding events.
Shiba Inu Coin Faces Price Decline Amid Market Volatility
At the latest update, SHIB’s price has dropped by 4.72% to trade at $0.00001858. Over the past 24 hours, the token saw lows of $0.00001856 and highs of $0.00001941.
Despite an impressive 874% increase in the burn rate, with nearly 8 million coins incinerated, SHIB remained in the red zone without significant price gains.
Today’s price decline reflects broader market trends, prompting speculation about a potential SHIB and overall market recovery. The Relative Strength Index (RSI) has edged toward the buying zone at 53, indicating SHIB is currently balanced without being overbought or oversold.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
#SHIB #ShibaInu #Memecoin #WazirX #WRX $WRX $SHIB $BTC
🚨 WazirX Hack Alert 🚨
A hacker stole $102.1 million worth of #SHIBAINU from WazirX today and has already sold it all.
#WazirX was holding $503 million in crypto, according to their latest Proof of Reserve report.
The hack, now valued at $230 million (Almost 50% ), could cause serious issues for the exchange if the funds aren’t recovered.
#Hack #btc #bitcoin $BTC $SHIB $WRX
A hacker stole $102.1 million worth of #SHIBAINU from WazirX today and has already sold it all.
#WazirX was holding $503 million in crypto, according to their latest Proof of Reserve report.
The hack, now valued at $230 million (Almost 50% ), could cause serious issues for the exchange if the funds aren’t recovered.
#Hack #btc #bitcoin $BTC $SHIB $WRX
5 Trillion SHIB Stolen in WazirX Hack: Shiba Inu Price Prediction
The Shiba Inu price fell 11% to $0.00001707 in 24 hours after crooks stole 5.4 trillion SHIB in a $234 million breach of Indian exchange WazirX.
Although the meme currency gained 2% in a week and 11% in a fortnight, SHIB is down 2% in an hour.
Hackers dumping SHIB might cause greater losses for the cryptocurrency.
The offenders seem to have been selling Shiba Inu piecemeal, thus the harm may be minimal and the currency likely to recover quickly.
5 Trillion SHIB Stolen in WazirX Hack: Shiba Inu Price Prediction
SHIB's data suggests hackers have sold $20 million in meme tokens quickly.
The currency is highly oversold, indicating a big return, but more agony may follow soon.
Its relative strength index (purple) has dropped to 20, indicating a near-term resurgence.
Some worry that the WazirX hackers may sell all their SHIB at once, although experts have highlighted that they may sell more slowly to avoid tanking the market.
The hackers may not be able to sell their SHIB at a practical level since security experts and legal authorities will be tracking their activities on the public Ethereum blockchain, where Shiba Inu operates.
This hack definitely didn't hurt SHIB, which undoubtedly saw the worst of it today.
In the medium and long run, the Shiba Inu price should rebound dramatically in the next weeks and months.
Next week's Ethereum ETF launch will enhance enthusiasm and demand, as will fall rate reduction.
SHIB, one of the strongest meme tokens fundamentally, will return to $0.00002 and eventually $0.00003 Q4.
#SHIB #ETH_ETFs_Approval_Predictions $SHIB #WazirX
The Shiba Inu price fell 11% to $0.00001707 in 24 hours after crooks stole 5.4 trillion SHIB in a $234 million breach of Indian exchange WazirX.
Although the meme currency gained 2% in a week and 11% in a fortnight, SHIB is down 2% in an hour.
Hackers dumping SHIB might cause greater losses for the cryptocurrency.
The offenders seem to have been selling Shiba Inu piecemeal, thus the harm may be minimal and the currency likely to recover quickly.
5 Trillion SHIB Stolen in WazirX Hack: Shiba Inu Price Prediction
SHIB's data suggests hackers have sold $20 million in meme tokens quickly.
The currency is highly oversold, indicating a big return, but more agony may follow soon.
Its relative strength index (purple) has dropped to 20, indicating a near-term resurgence.
Some worry that the WazirX hackers may sell all their SHIB at once, although experts have highlighted that they may sell more slowly to avoid tanking the market.
The hackers may not be able to sell their SHIB at a practical level since security experts and legal authorities will be tracking their activities on the public Ethereum blockchain, where Shiba Inu operates.
This hack definitely didn't hurt SHIB, which undoubtedly saw the worst of it today.
In the medium and long run, the Shiba Inu price should rebound dramatically in the next weeks and months.
Next week's Ethereum ETF launch will enhance enthusiasm and demand, as will fall rate reduction.
SHIB, one of the strongest meme tokens fundamentally, will return to $0.00002 and eventually $0.00003 Q4.
#SHIB #ETH_ETFs_Approval_Predictions $SHIB #WazirX
Shiba Inu price drops 10% — SHIB sell-off risk soars amid WazirX $235M hack
SHIB is the biggest crypto by the US dollar value drained from WazirX’s wallet in the hacking incident that includes Pepe, Ether, and other cryptocurrencies.
Shiba Inu the second-largest memecoin by market capitalization, faced a significant dip after being implicated in the recent hacking incident at the India-based crypto exchange, WazirX. This unsettling news has amplified concerns of a potential selloff, casting a shadow over SHIB's short-term outlook.
On July 18, SHIB’s price fell roughly 10%, reaching $0.00001720. This decline occurred after Web3 security firm Cyvers identified the suspicious movement of cryptocurrencies valued at around $235 million from wallets linked to WazirX, including about $100 million worth of Shiba Inu.
#SHIB #WRX #WazirX #ShibaInu #JPMorgan $SHIB $WRX
SHIB is the biggest crypto by the US dollar value drained from WazirX’s wallet in the hacking incident that includes Pepe, Ether, and other cryptocurrencies.
Shiba Inu the second-largest memecoin by market capitalization, faced a significant dip after being implicated in the recent hacking incident at the India-based crypto exchange, WazirX. This unsettling news has amplified concerns of a potential selloff, casting a shadow over SHIB's short-term outlook.
On July 18, SHIB’s price fell roughly 10%, reaching $0.00001720. This decline occurred after Web3 security firm Cyvers identified the suspicious movement of cryptocurrencies valued at around $235 million from wallets linked to WazirX, including about $100 million worth of Shiba Inu.
#SHIB #WRX #WazirX #ShibaInu #JPMorgan $SHIB $WRX
WazirX hackers continue to sell SHIB in batches
on July 18, according to ai_9684xtpa monitoring, in the past two hours, the WazirX hacker address has transferred 801 billion $SHIB (accounting for 14.74% of the stolen SHIB) to the address 0x35fe...745CA, with a value of up to 14.02 million US dollars, and is being sold in batches
Currently, the hacker address still holds 4.9 trillion SHIB, with a total value of 86.52 million US dollars; due to large-scale on-chain selling and panic sentiment, the SHIB coin price has fallen by 9%, and the current price is 0.00001726 US dollars.
#WRX #WazirX #Shib #MarkCuban #Grayscale $WRX $BTC
on July 18, according to ai_9684xtpa monitoring, in the past two hours, the WazirX hacker address has transferred 801 billion $SHIB (accounting for 14.74% of the stolen SHIB) to the address 0x35fe...745CA, with a value of up to 14.02 million US dollars, and is being sold in batches
Currently, the hacker address still holds 4.9 trillion SHIB, with a total value of 86.52 million US dollars; due to large-scale on-chain selling and panic sentiment, the SHIB coin price has fallen by 9%, and the current price is 0.00001726 US dollars.
#WRX #WazirX #Shib #MarkCuban #Grayscale $WRX $BTC
**Breaking News**:
Popular Indian crypto exchange #WazirX has been hacked, resulting in a loss of $234.9 million. The transactions were initiated by accounts funded through Tornado Cash. The hacker has already converted PEPE, GALA, and USDT tokens to ETH and continues to swap various tokens.
#Hacked #news #bitcoin
Popular Indian crypto exchange #WazirX has been hacked, resulting in a loss of $234.9 million. The transactions were initiated by accounts funded through Tornado Cash. The hacker has already converted PEPE, GALA, and USDT tokens to ETH and continues to swap various tokens.
#Hacked #news #bitcoin
India's leading crypto exchange WazirX hit with $230 million hack
WazirX has suffered a security breach targeting one of its multisig wallets.
The attacker reportedly stole over $230 million worth in crypto assets, including $100 million in Shiba Inu (SHIB).
WazirX, India’s top crypto exchange, was hit by a security breach on Thursday, the company confirmed the incident in a recent statement. The estimated loss is over $230 million at the time of reporting.
The exchange said it would temporarily suspend Indian Rupee (INR) and crypto withdrawals to protect user funds while investigating the incident.
The attack was initially reported by security firm Cyvers Alert early Thursday. According to Cyvers, a suspicious address withdrew approximately $235 million worth of crypto assets from WazirX’s multisig wallet,
#WRX #WazirX #wrx #BlackRock #JPMorgan $WRX $BTC $SOL
WazirX has suffered a security breach targeting one of its multisig wallets.
The attacker reportedly stole over $230 million worth in crypto assets, including $100 million in Shiba Inu (SHIB).
WazirX, India’s top crypto exchange, was hit by a security breach on Thursday, the company confirmed the incident in a recent statement. The estimated loss is over $230 million at the time of reporting.
The exchange said it would temporarily suspend Indian Rupee (INR) and crypto withdrawals to protect user funds while investigating the incident.
The attack was initially reported by security firm Cyvers Alert early Thursday. According to Cyvers, a suspicious address withdrew approximately $235 million worth of crypto assets from WazirX’s multisig wallet,
#WRX #WazirX #wrx #BlackRock #JPMorgan $WRX $BTC $SOL
Big oof for WazirX! 📣🙉🚨 Looks like they got hacked for around $230M in crypto. 🤮
Hacker snatched a bunch of stuff including $SHIB ,ETH, $MATIC , and even some memecoins like $FLOKI .
So far they've dumped a bunch of it for ETH (around $18M worth). Crazy times in the crypto world! 😵💫 DYOR!! #WazirX #HackerAlert #altcoins #PEPE
Hacker snatched a bunch of stuff including $SHIB ,ETH, $MATIC , and even some memecoins like $FLOKI .
So far they've dumped a bunch of it for ETH (around $18M worth). Crazy times in the crypto world! 😵💫 DYOR!! #WazirX #HackerAlert #altcoins #PEPE
#WazirX Hack Over $230 Million Stolen Heres What You Need To Know
https://altcoinsanalysis.com/wazirx-hack-over-230-million-stolen-heres-what-you-need-to-know/
https://altcoinsanalysis.com/wazirx-hack-over-230-million-stolen-heres-what-you-need-to-know/
🚨🚨 Indian Crypto Exchange WazirX Hacked: $230M Stolen 🚨🚨
WazirX, an Indian cryptocurrency exchange, has reportedly been hacked, losing $234.9M. Security platform Cyvers detected suspicious transactions from WazirX's multisig wallet on the Ethereum network. Stolen assets include:
- $102M in SHIB
- $52.5M in ETH
- $11.24M in MATIC
- $7.6M in PEPE
- $5.79M in USDT
- $3.5M in GALA
#CryptoDawar #WazirX #Hacked
WazirX, an Indian cryptocurrency exchange, has reportedly been hacked, losing $234.9M. Security platform Cyvers detected suspicious transactions from WazirX's multisig wallet on the Ethereum network. Stolen assets include:
- $102M in SHIB
- $52.5M in ETH
- $11.24M in MATIC
- $7.6M in PEPE
- $5.79M in USDT
- $3.5M in GALA
#CryptoDawar #WazirX #Hacked
WazirX Hack Leads to Huge SHIB Sell-off: Sell Signal?
WazirX’s recent hack saw over $230 million worth of crypto stolen, including a staggering 5.4 trillion SHIB tokens. The hacker began selling off SHIB, triggering a more than 10% drop in its price as investors worried about additional selling pressure.
Despite efforts to burn tokens, the SHIB community remains anxious about further selling and its potential impact on prices.
Shiba Inu (SHIB) Plunges Amidst WazirX Hack Fallout
Shiba Inu (SHIB) has experienced a sharp decline, dropping by over 10.6% in recent hours to reach approximately $0.00001737. This sudden downturn has set off alarm bells among investors, indicating that the hacker responsible for the recent breach at WazirX has begun to sell off their stolen SHIB holdings.
According to blockchain data, the hacker still holds a massive 5.4 trillion SHIB tokens. This substantial amount raises concerns about potential further disruptions in the market. Investors are wary of the ongoing impact of these sales on SHIB’s price stability and overall market sentiment.
WazirX Hack: Massive SHIB Holdings Cause Market Turmoil
Recently, WazirX, India’s largest digital asset exchange, fell victim to a significant security breach. Exploiting vulnerabilities in the platform’s multisig wallets, hackers managed to steal over $230 million worth of various cryptocurrencies, including SHIB, PEPE, Ethereum, and Fantom.
According to blockchain data, the attacker responsible for the breach holds an immense 5.435 trillion SHIB tokens, valued at approximately $102 million. This substantial holding underscores the impact of the ongoing sell-off by the attacker on SHIB’s market price. Investors and the SHIB community are closely monitoring developments amid concerns about further market instability caused by continued selling.
Whale Alert – Source: X
Hacker Sells 35 Billion SHIB Tokens Despite Increased Burn Rate
Reports from Lookonchain reveal that the hacker responsible for the WazirX security breach has sold 35 billion SHIB tokens, amounting to about $618,000. Despite these sales, the attacker still holds a massive 5.4 trillion SHIB tokens, valued at approximately $95.45 million.
Lookonchain update – Source: X
The ongoing selling activity by the hacker underscores the challenges faced by WazirX and raises concerns within the crypto community about platform security and investor protection.
In response to the exploit, SHIB’s price has plummeted by over 10.6%, currently trading around $0.00001737. Despite a substantial 874% increase in SHIB token burn rate today, market sentiment remains predominantly bearish.
SHIB Community Braces for Price Declines
Many members of the Shiba Inu community are apprehensive about potential further declines in SHIB’s price as the hacker behind the WazirX breach continues to sell small amounts of their SHIB tokens. With a substantial 5.4 trillion tokens still under the hacker’s control, there are growing concerns that continued selling could exert additional downward pressure on SHIB’s market value.
Meanwhile, the Relative Strength Index (RSI) for SHIB currently stands at 53, indicating a neutral stance but reflecting cautious sentiment among investors
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
#WRX #WazirX #WarzirX #BlockFi #BlockFi $WRX $BTC $SOL
Despite efforts to burn tokens, the SHIB community remains anxious about further selling and its potential impact on prices.
Shiba Inu (SHIB) Plunges Amidst WazirX Hack Fallout
Shiba Inu (SHIB) has experienced a sharp decline, dropping by over 10.6% in recent hours to reach approximately $0.00001737. This sudden downturn has set off alarm bells among investors, indicating that the hacker responsible for the recent breach at WazirX has begun to sell off their stolen SHIB holdings.
According to blockchain data, the hacker still holds a massive 5.4 trillion SHIB tokens. This substantial amount raises concerns about potential further disruptions in the market. Investors are wary of the ongoing impact of these sales on SHIB’s price stability and overall market sentiment.
WazirX Hack: Massive SHIB Holdings Cause Market Turmoil
Recently, WazirX, India’s largest digital asset exchange, fell victim to a significant security breach. Exploiting vulnerabilities in the platform’s multisig wallets, hackers managed to steal over $230 million worth of various cryptocurrencies, including SHIB, PEPE, Ethereum, and Fantom.
According to blockchain data, the attacker responsible for the breach holds an immense 5.435 trillion SHIB tokens, valued at approximately $102 million. This substantial holding underscores the impact of the ongoing sell-off by the attacker on SHIB’s market price. Investors and the SHIB community are closely monitoring developments amid concerns about further market instability caused by continued selling.
Whale Alert – Source: X
Hacker Sells 35 Billion SHIB Tokens Despite Increased Burn Rate
Reports from Lookonchain reveal that the hacker responsible for the WazirX security breach has sold 35 billion SHIB tokens, amounting to about $618,000. Despite these sales, the attacker still holds a massive 5.4 trillion SHIB tokens, valued at approximately $95.45 million.
Lookonchain update – Source: X
The ongoing selling activity by the hacker underscores the challenges faced by WazirX and raises concerns within the crypto community about platform security and investor protection.
In response to the exploit, SHIB’s price has plummeted by over 10.6%, currently trading around $0.00001737. Despite a substantial 874% increase in SHIB token burn rate today, market sentiment remains predominantly bearish.
SHIB Community Braces for Price Declines
Many members of the Shiba Inu community are apprehensive about potential further declines in SHIB’s price as the hacker behind the WazirX breach continues to sell small amounts of their SHIB tokens. With a substantial 5.4 trillion tokens still under the hacker’s control, there are growing concerns that continued selling could exert additional downward pressure on SHIB’s market value.
Meanwhile, the Relative Strength Index (RSI) for SHIB currently stands at 53, indicating a neutral stance but reflecting cautious sentiment among investors
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
#WRX #WazirX #WarzirX #BlockFi #BlockFi $WRX $BTC $SOL
ZachXBT suspects Lazarus Group in $230M WazirX hack
Blockchain hacks are common, and WazirX, a big Indian crypto exchange, was the victim. The $230 million breach probe, led by cybersecurity specialist ZachXBT, revealed specific information that highlight crypto ecosystem weaknesses.
The 10 July transactions were test runs using SHIB tokens to confuse origins and intents. These transactions were funded by numerous 0.1 ETH withdrawals from Tornado Cash, a prominent privacy-focused cryptocurrency mixing service used by hackers to create untraceable transactions.
Bitcoin transfers, which funded the operation, came from an unnamed service. Without transparency, tracing attempts were limited, making it difficult to identify the attack's victims.
Implications and Security
ZachXBT notes that the WazirX hack's initial use of Bitcoin resembles the Lazarus Group's cyber operations, which have targeted financial institutions and cryptocurrency exchanges.
Lazarus Group techniques, such constructing a network of transactions to mislead analysts with privacy-centric services like Tornado Cash, are similar. This revelation raises concerns about hackers' emerging crypto security exploits.
WazirX has promised to disclose internal investigative results after the incident. The exchange halted withdrawals to avoid additional hacks. Their proactive approach to sharing information and collaborating with authorities helps mitigate the crisis and recover user confidence.
The incident emphasises bitcoin sector openness and responsibility. WazirX hopes to reassure consumers and strengthen cyberdefenses by transparently resolving flaws and improving security.
Cryptocurrency Security Future
Crypto sector stakeholders should implement strict security standards to protect user assets and digital financial systems. Cryptocurrency exchanges and service providers should prioritize user asset security. By following best practices and adopting strong security frameworks, stakeholders may reduce risks and improve trade security.
#HACK #WazirX
Blockchain hacks are common, and WazirX, a big Indian crypto exchange, was the victim. The $230 million breach probe, led by cybersecurity specialist ZachXBT, revealed specific information that highlight crypto ecosystem weaknesses.
The 10 July transactions were test runs using SHIB tokens to confuse origins and intents. These transactions were funded by numerous 0.1 ETH withdrawals from Tornado Cash, a prominent privacy-focused cryptocurrency mixing service used by hackers to create untraceable transactions.
Bitcoin transfers, which funded the operation, came from an unnamed service. Without transparency, tracing attempts were limited, making it difficult to identify the attack's victims.
Implications and Security
ZachXBT notes that the WazirX hack's initial use of Bitcoin resembles the Lazarus Group's cyber operations, which have targeted financial institutions and cryptocurrency exchanges.
Lazarus Group techniques, such constructing a network of transactions to mislead analysts with privacy-centric services like Tornado Cash, are similar. This revelation raises concerns about hackers' emerging crypto security exploits.
WazirX has promised to disclose internal investigative results after the incident. The exchange halted withdrawals to avoid additional hacks. Their proactive approach to sharing information and collaborating with authorities helps mitigate the crisis and recover user confidence.
The incident emphasises bitcoin sector openness and responsibility. WazirX hopes to reassure consumers and strengthen cyberdefenses by transparently resolving flaws and improving security.
Cryptocurrency Security Future
Crypto sector stakeholders should implement strict security standards to protect user assets and digital financial systems. Cryptocurrency exchanges and service providers should prioritize user asset security. By following best practices and adopting strong security frameworks, stakeholders may reduce risks and improve trade security.
#HACK #WazirX
