SHIB Community Panics as Hackers Target WazirX Exchange, Dump $102M Worth of SHIB Tokens

The SHIB community was thrust into a state of panic on Thursday following a malicious breach targeting India's leading cryptocurrency exchange, WazirX.

Hackers stole crypto assets worth $234.9 million from India’s leading exchange, WazirX, on Thursday, and quickly moved the funds to an unknown wallet connected to Tornado Cash.

The stolen crypto assets included 15,290 ETH ($52 million), 20 million MATIC ($11 million), and a staggering 5,433,752,465,343 SHIB tokens ($102.1 million).

Shortly after the hack, crypto analysis firm LookIntoChain reported that the stolen SHIB tokens were being sold in the market, causing widespread panic among investors and leading to a 10% drop in SHIB’s price within an hour.

However, as per the latest data from Etherscan, the exploiter has sold all of the SHIB, leaving them with around $18.5 million in other tokens.

“I sincerely hope all SHIB holders get their money back and Wazir fixes this. The amount of SHIB is significant, but it’s small compared to SHIB’s overall volume. Take this as an opportunity; I definitely will. No panic, we’ve been here before.”

Shibarium’s lead marketer, LUCIE, also commented on the situation, highlighting the impact on SHIB holders and expressing optimism despite the challenges.

Meanwhile, the team behind FLOKI, another meme token affected by the hack, confirmed that the exploiter had sold all of the compromised Floki tokens.

“The exploiter has sold every last cent of FLOKI token he/she got. Not only was the sell fully absorbed by the market, which shows how strong and liquid Floki is as an asset…going forward you can expect zero impact from the hacker as far as Floki is concerned,” the FLOKI team stated.

They also mentioned continued collaboration with WazirX to minimize the impact on affected Floki holders.

At the time of writing, SHIB was trading at 0.00001778, showing a 7.68% decrease over the past 24 hours. Notably, the token showed signs of stabilizing as the market absorbed the massive sell-off, and SHIB’s price recovered by Thursday evening.

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