⚠️Crypto hack in India..Details and Impact
#shiba⚡ #ETH🔥🔥🔥🔥 #PolygonMATIC
(SHIB): 5.4 trillion tokens (approximately $100 million)
Ether (ETH): $52 million
Polygon (MATIC): $11 million
Floki (FLOKI): $4.7 million
Fantom (FTM): $3.2 million
Chainlink (LINK): $2.8 million
Fetch.ai (FET): $2.3 million
The hack has contributed to volatility in the cryptocurrency market, as it highlights the risks associated with cryptocurrency trading.
Financial losses:
Over $230 million in digital assets were stolen from WazirX, including a significant amount of Shiba Inu tokens (around $100 million worth). This represents a substantial loss for the exchange and its users.
Reputational damage:
The hack has damaged WazirX's reputation and raised concerns about the security of its platform. This could lead users to move their business to other exchanges.
Increased scrutiny:
The hack comes at a time when the Indian government is already scrutinizing the cryptocurrency industry. This event is likely to intensify calls for stricter regulations.
