Indian crypto exchange WazirX was hacked for more than $230 million, deposits and withdrawals were stopped. What is known at this time 👇
On-chain analysts#CyversAlerts were the first to report the hack. The exchange was hacked via a compromised ETH multi-signature wallet. Assets worth $234.9 million were transferred to the new address. The calling party of each transaction was financed from the Tornado Cash mixer (a reason to tell that its developer Alexey Pertsev is not guilty of anything and is in prison in vain, because he “just wrote the code” ).
The exchange confirmed the hack:
“Update: We are aware that there has been a security breach in one of our multi-signature wallets. Our team is actively investigating the incident. To ensure the safety of your assets, INR and cryptocurrency withdrawals will be temporarily suspended. Thank you for your patience and understanding. We will keep you posted with further updates."
According to the team of crypto-journalist Colleen Wu, those who suffered the most from the hack in terms of the volume of stolen funds were:
-#SHIB(stolen at $102 million),
-#ETH($52.5m stolen),
-#MATIC(a steal at $11.24M).
Next on the list:
- #BABY,
- #USDT,
- #GALA,
- #FTM,
- #LINK,
- #DONE,
- #JASMY.
Volatile assets on the list are under selling pressure.
The price of the exchange token, #WRX, corrected by more than 12% on the news, but did so after several unsuccessful attempts to break through the EMA of the 50 day timeframe and after the “Expensive” signal on the trend reversal indicator. So the correction looks logical. The asset has rewritten the 2024 layover in recent days and until it recovers the EMA of the 50 day TF, there is a risk of doing this again. The “magnet” for the decline is the upward trend support from the summer of 2023 (indicated by the dotted line), which is now at the level of $0.1078. The target is the maximum for the bears and the ideal entry point with a limit order for the bulls.
The asset suffered greatly from the range and uncertainty of BTC, and from the latest downtrend in altcoins. In general, it has been correcting since March 2024. A strong signal for a reversal could be a breakdown of the downward trend since March 13. Currently it is at the volume level of $0.2025.
