Massive Hack Hits WazirX
WazirX, a leading cryptocurrency exchange in India, suffered a major security breach, resulting in the theft of $230 million in digital assets.
Key Details of the Breach:
- Largest Loss: Shiba Inu (SHIB) with 5.43 trillion tokens stolen, valued at $102 million.
- Other Stolen Assets:
- 15,298 Ethereum (ETH) worth $52.5 million
- 20.5 million Polygon (MATIC) worth $11.24 million
- 640.27 billion Pepe (PEPE) worth $7.6 million
- 5.79 million Tether (USDT)
- 135 million Gala (GALA) worth $3.5 million
Exchange Response:
- Paused withdrawals of cryptocurrencies and Indian rupees.
- The hacker has begun selling the stolen SHIB.
Market Concerns:
- The hack raises alarms in the cryptocurrency community, impacting recovery efforts led by Bitcoin (BTC).
AI Predictions for SHIB Price by August 1
Scenarios Outlined by AI:
1. Bearish Outcome:
- Erosion of investor confidence could lead to a sell-off.
- Price could drop to around $0.000015 or lower.
2. Neutral Outcome:
- If security measures improve, the price might stabilize around $0.000017.
3. Bullish Outcome:
- Positive market trends or strong buying interest could push the price to around $0.000020 or higher.
Additional Factors Influencing SHIB:
- Market Dynamics: Broader trends, regulatory news, and macroeconomic factors.
- Community Initiatives: Increased burning activity to mitigate fallout. Shibburn reported an 874.74% surge in the burning rate on July 18.
Current SHIB Price Analysis:
- Price at Press Time: $0.00001735, with a 24-hour loss of over 10%.
- Weekly Performance: Up over 4%.
- Key Levels to Monitor:
- Resistance at $0.000018.
- Support at $0.0000170; losing this could heighten bearish sentiments.
Conclusion
The cryptocurrency community is closely watching SHIB’s response to the hack, with various potential outcomes depending on market reactions and developments.
#SHIB، #GalaFundamentals #wazirX #writetoearn #WazirXHacked $SHIB