🚨🌟 A shock on the crypto market: The price of Shiba Inu (SHIB) collapses following a colossal hack in India!
A massive hack of WazirX, India's largest cryptocurrency exchange, has caused a dramatic drop in the price of Shiba Inu (SHIB). Indeed, a security breach allowed the theft of $234 million in cryptocurrencies, triggering a wave of suspicious transactions on the Ethereum network.
This cyber attack resulted in a 6.87% drop in SHIB, currently trading at $0.0000173 per token. The attacker has already liquidated 35 billion SHIB, or around $700,000, intensifying the price collapse. With 5.4 trillion tokens still in its possession, further turmoil for SHIB is inevitable.
According to IntoTheBlock, 423.96 trillion SHIB is in a critical price range, threatening further sell-offs if the attacker continues to liquidate its holdings. This situation could push holders to get rid of their tokens, increasing the downward pressure.
WazirX acknowledged the breach and temporarily suspended INR and crypto withdrawals to secure assets. The team is actively investigating and promises to keep users informed of every development.
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