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.
