SHIB is the biggest crypto by the US dollar value drained from WazirX’s wallet in the hacking incident that includes Pepe, Ether, and other cryptocurrencies.
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 crypto exchange, WazirX. This unsettling news has amplified concerns of a potential selloff, casting a shadow over SHIB's short-term outlook.
On July 18, SHIB’s price fell roughly 10%, reaching $0.00001720. This decline occurred after Web3 security firm Cyvers identified the suspicious movement of cryptocurrencies valued at around $235 million from wallets linked to WazirX, including about $100 million worth of Shiba Inu.
The wallet also held $52 million in Ether (ETH), $11 million in Polygon (MATIC), $4.7 million in Floki (FLOKI), $3.2 million in Fantom (FTM), $2.8 million in Chainlink (LINK), and $2.3 million in Fetch.ai (FET). All these cryptocurrencies have declined in price following WazirX's security breach.
