Trillions Of SHIB Tokens Stolen As WazirX Gets Hacked

The Shiba Inu (SHIB) team has responded to the WazirX hack, where a substantial amount of SHIB tokens were stolen, urging holders to stay resilient and highlighting the necessity for enhanced security measures.

Dealing With The Loss

Shiba Inu is a popular cryptocurrency featuring a dog-themed motif, whereas WazirX is a prominent Indian crypto exchange. Trillions of SHIB tokens were reportedly taken, resulting in considerable financial losses. Lucie, the Marketing Head at Shiba Inu, extended sympathies to those affected by the hack, which resulted in millions of dollars being seized.

Cryptocurrency hacking has seen a rise in recent years, causing billions in losses and exposing vulnerabilities within the crypto ecosystem. WazirX is the latest victim of such attacks. Just hours ago, hackers exploited WazirX, according to reports by Lookonchain, a widely-used on-chain tracker on the X platform (formerly Twitter). The hackers absconded with over $230 million in various crypto assets, including Shiba Inu, Ethereum, MATIC, PEPE, USDT, and GALA.

Cause For Concern

The breach has caused alarm among cryptocurrency investors, particularly those holding SHIB tokens on WazirX. Lucie addressed affected SHIB holders, expressing her hopes for their recovery of funds and urging WazirXIndia to resolve the issue promptly. She acknowledged the significant amount stolen but underscored its proportion relative to total SHIB circulation. Lucie encouraged the community to remain united and supportive in the face of adversity, viewing it as an opportunity for growth.

Kaal Dhairya, a developer at Shiba Inu, echoed sympathy for impacted SHIB holders, voicing frustration over the attack and urging community solidarity. This incident underscores the critical need for crypto exchanges to bolster security measures to safeguard investor assets. Strengthening security protocols is imperative to uphold trust in the digital asset sector. As the industry evolves, robust cybersecurity practices remain essential for both exchanges and projects to protect investors.