The WazirX hacker liquidated SHIB Coin, MATIC, PEPE and obtained another 43,799 ETH. The hacker still holds other altcoins worth $12-15 million, including CHR, CELR, OOKI and FRONT. Apparently, the hacker wants to hold on to ETH until the expected rally with the Ethereum ETF approval.
WazirX hacker converts SHIB Coin and other altcoins into ETH!
As you have been following on Kriptokoin.com, crypto exchange WazirX has been the victim of a massive hack. The hacker managed to steal a lot of tokens from the exchange. Now he is converting these tokens into ETH. On-chain data provider Spot on Chain reported that the WazirX hacker’s total Ethereum holdings increased to 59,097 ETH worth $201 million. The hacker stole 15,298 ETH ($52 million) directly from the exchange. He also purchased 43,799 ETH ($149 million) by liquidating various assets, specifically 5.43 trillion SHIB Coins ($90.2 million), 20.5 million MATICs ($10.2 million) and 640.27 billion PEPE ($7.48 million).
According to Spot on Chain, the hacker has not made any other moves with these ETH assets. Interestingly, the hacker is still holding other altcoins worth $12-15 million, including CHR, CELR, OOKI and FRONT. It seems that the WazirX hacker is also betting on the upcoming Ethereum price rally as spot Ether ETFs will go live for trading next week. While the rest of the altcoins saw a major price correction after the exploit, Ethereum held steady around $3,420. On Thursday, SHIB Coin plunged more than 10% amid massive selling from the hacker.
Are indicators for Shiba Inu signaling a resurgence?
Despite experiencing a daily price correction of around 7%, Shiba Inu has witnessed a resurgence in some key metrics related to its ecosystem. For example, the burn rate increased by 450% in the last 24 hours, resulting in almost 50 million tokens being sent to an empty address. The USD equivalent of the stash may be insignificant, but continued efforts in this area could have a positive impact on the price.
The data shows that more than 41% of SHIB’s total supply has been destroyed. Reducing the circulating supply could lead to scarcity, increasing the value of the meme coin. Shiba Inu whales have also been very active recently. According to IntoTheBlock, the total daily volume (where each transaction exceeds $100,000) approached $900 million, an increase of 1,800% compared to the figure observed on July 18. Some Shibarium metrics such as active accounts, new transactions and verified contract growth have also headed north over the past few days. It will be interesting to see if a SHIB Coin price rebound will follow the resurgence of the bullish indicators mentioned above in the near future.
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