Shiba Inu (SHIB) Hack: $102 Million Stolen via WazirX Exploit, Another Dip for SHIB Holders

Shiba Inu (SHIB), the second-largest memecoin by market capitalization, faced a significant dip after being implicated in the recent hacking incident at the India-based WazirX exchange. Shiba Inu Hackers exploited a vulnerability in WazirX, stealing $102 million worth of Shiba Inu, causing significant concern among SHIB holders.

Magnitude of the WazirX Hack and Shiba Inu Impact

The massive theft of Shiba Inu tokens has sent ripples through the SHIB community, triggering concerns about security vulnerabilities in cryptocurrency exchanges and the potential for further price volatility. Etherscan data confirms that Shiba Inu is among the dumped assets. The data reveals that the attackers moved the stolen SHIB in multiple transactions. One of these...

According to Lookonchain, a popular tracker on the platform X (formerly Twitter), the hackers exploited vulnerabilities in WazirX to steal assets such as Shiba Inu. This has led to increased scrutiny of WazirX's security protocols and calls for greater accountability in safeguarding user funds.

Shiba Inu Price Dip: What's Next?

The $102 million SHIB theft has undoubtedly contributed to downward pressure on the Shiba Inu price. Investors are closely monitoring the situation, and the recovery of the stolen funds remains uncertain. The long-term impact of this hack on Shiba Inu's reputation and market performance remains to be seen. Stay updated on the latest developments regarding the WazirX hack and its implications for the Shiba Inu ecosystem.