Shiba Inu, a dog-themed memecoin, is under the spotlight as trillions of SHIB were allegedly stolen in a recent cybersecurity breach at WaxirX, the leading India-based cryptocurrency exchange. Reacting to the incident, Lucie, a Shiba Inu team member and marketing lead, said: sincere message expressed condolences to SHIB holders affected by the hack, which saw millions in funds misappropriated.
Billions of Shiba Inus Stolen in WazirX Hack
In recent years, the frequency and power of cryptocurrency hacks have increased dramatically, leading to billions of dollars being stolen from cryptocurrency exchanges and exposing weaknesses in the entire ecosystem. WaxirX, an Indian cryptocurrency exchange, is the latest platform to fall victim to these exploits.
A few hours ago, WazirX was reportedly exploited by cybercriminals, as reported by Lookonchain, a popular on-chain tracking tool on the X platform (formerly Twitter). According to the on-chain tracking tool, the hackers managed to steal several crypto assets from WazirX worth over $230 million.
Shiba Inu The main crypto assets stolen by the criminals were Ethereum, MATIC, PEPE, USDT, GALA, and a few others. Specifically, the criminals stole over 5.43 trillion SHIB, worth $102 million from the cryptocurrency exchange.
Lookonchain reported that the crypto exchange’s wallet address, WazirXIndia, was seen moving the funds to the unknown wallet address 0x04b2. Since the incident, the tracker noted that the wallet address has made the stolen assets more anonymous as the over 640.27 billion PEPE, worth around $7.6 million, taken by the intruders, has been sold.
Cryptocurrency investors are extremely concerned about the WaxirX security breach, especially those who have SHIB tokens on the exchange, prompting Shiba Inu team member LucyHeartfelt message to the SHIB victims involved in the violation.
“I sincerely hope that all SHIB holders get their money back and WazirXIndia resolves this issue,” Lucie said. Lucie further pointed out that even though the amount of SHIB The amounts stolen from the platform are significant, but they are insignificant compared to the overall volume of SHIB.
She therefore urged the SHIB army not to be discouraged by this incident, stressing the value of cooperation and support among community members. “Consider this as an opportunity, I will definitely do so,” she added.
Need for enhanced security measures
Kaal Dhairya, the developer of the project also Express Kaal expressed his sympathy to the SHIB holders who were injured in the hack. Kaal revealed his displeasure over the attack, while urging the Shiba Inu community to stay strong during difficult times like this.
This breach highlights how crucial it is for cryptocurrency exchanges to provide enhanced measures to combat cyber attacks and protect investors’ wealth, in order to maintain confidence within the digital asset sector.
Featured image from iStock, chart from Tradingview.com
