Bitcoin, SHIB Trade at 30% Haircut on WazirX as Exploiter Converts Stolen Loot to Ether

WazirX was hit by a security breach in one of its multisig wallets on Thursday, causing over $100 million in shiba inu (SHIB) and $52 million in ether, among other assets, to be drained from the exchange. The stolen funds accounted for over 45% of the total reserves cited by the exchange in a June 2024 report – effectively dampening hopes of a recovery among users.