Security Breach Prompts Critical Warning to SHIB Community
A recent hack attack on WazirX has sparked concern among the SHIB community, leading to a developer issuing a critical warning to investors about safeguarding their assets. The security breach on the Indian crypto exchange has resulted in significant financial losses for SHIB holders. Here are the key points to consider:
– On July 18, Kaal Dhairya, a top developer closely linked to Shytoshi Kusama, the lead developer of SHIB, alerted the community about the hack attack targeting investors.
– Dhairya emphasized the importance of securing wallet private keys to prevent the loss of crypto assets.
– Reports indicated that WazirX suffered a massive security breach, resulting in approximately $235 million worth of crypto assets being moved out of the exchange.
– Cyvers Alerts, a security platform, reported that funds from WazirX were transferred to a new address, with each transaction caller funded by “TornadoCash.”
– The attacker swiped over $100 million worth of Shiba Inu tokens and approximately $4.7 million worth of Floki coins, raising concerns among investors.
– Arkham Intelligence revealed evidence of a KYC-linked deposit address used by the malicious attacker, potentially aiding in resolving the hack issue.
Impact on Shiba Inu Price Amidst Recent Hack Attack
With the recent hack attack resulting in significant losses for SHIB investors, the price of Shiba Inu has taken a hit, experiencing unexpected declines after a period of relative stability. Here are the key takeaways:
– Following the theft of over $100 million worth of SHIB tokens in the hack attack, Shiba Inu’s price plummeted by 6.39%, trading below the $0.00002 mark.
– Despite a significant increase in its 24-hour trading volume, SHIB’s price currently stands at $0.0000175, signaling a downturn in its value.
– Investors who had witnessed the coin’s value soar to about $0.000019 are now faced with new declines, prompting a potential reassessment of their positions.
Hot Take: Safeguarding Your Crypto Investments Amidst Security Threats
As a cryptocurrency investor, it is crucial to prioritize the security of your assets in the face of increasing security threats and hacks targeting exchanges. By following best practices and ensuring the safety of your wallet private keys, you can mitigate the risks associated with such attacks and protect your investments.
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