WazirX Suffers $230M Hack, Suspends Withdrawals Amid Security Breach
Portfolio Pulse from Murtuza Merchant
Indian cryptocurrency exchange WazirX has been hacked, resulting in losses exceeding $230 million. The exchange has suspended withdrawals to safeguard user assets while investigating the breach.
July 18, 2024 | 11:39 am
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NEGATIVE IMPACT
Ethereum (ETH) was among the cryptocurrencies stolen in the WazirX hack, with 15,298 ETH worth around $52.5 million taken.
The theft of a significant amount of Ethereum could lead to short-term negative sentiment and selling pressure on ETH.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Floki (FLOKI) was also affected by the WazirX hack, with over $4.7 million worth of FLOKI stolen.
The theft of a substantial amount of FLOKI could result in short-term negative sentiment and selling pressure on FLOKI.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Polygon (MATIC) was among the stolen assets in the WazirX hack, with 20.5 million MATIC tokens valued at $11.24 million taken.
The theft of a significant amount of MATIC could lead to short-term negative sentiment and selling pressure on MATIC.
CONFIDENCE 88
IMPORTANCE 65
RELEVANCE 75
NEGATIVE IMPACT
Shiba Inu (SHIB) was heavily impacted by the WazirX hack, with 5.43 trillion SHIB valued at approximately $102 million stolen.
The theft of a massive amount of SHIB could result in short-term negative sentiment and selling pressure on SHIB.
CONFIDENCE 92
IMPORTANCE 75
RELEVANCE 85