WazirX Hacker is Selling SHIB Coin and These Altcoins, Buying This!

WazirX hacker liquidated SHIB Coin, MATIC, PEPE, and obtained 43,799 ETH more. The computer pirate still holds other altcoins worth 12-15 million dollars, including CHR, CELR, OOKI, and FRONT. Apparently, the hacker wants to hold ETH until the expected rally with Ethereum ETF approval.

WazirX hacker is converting SHIB Coin and other altcoins to ETH!

As you follow from Kriptokoin.com, the cryptocurrency exchange WazirX has fallen victim to a major hack. The hacker managed to steal a large amount of tokens from the exchange. Now, the hacker is converting these tokens to ETH. On-chain data provider Spot on Chain reported that the total Ethereum assets of the WazirX hacker have risen to 59,097 ETH, worth $201 million. The hacker directly stole 15,298 ETH ($52 million) from the exchange. Additionally, the hacker liquidated various assets, especially 43,799 ETH ($149 million), 5.43 trillion SHIB Coin ($90.2 million), 20.5 million MATIC ($10.2 million), and 640.27 billion PEPE ($7.48 million).

According to Spot on Chain, the hacker has not made any further moves with these ETH assets. Interestingly, the hacker still holds other altcoins worth 12-15 million dollars, including CHR, CELR, OOKI, and FRONT. It appears 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 significant price correction after the exploit, Ethereum remained stable around $3,420. On Thursday, SHIB Coin dropped more than 10% amidst the large sell-off from the hacker.

🔴 The total $ETH holding of #WazirX exploiter has risen to 59,097 $ETH ($201M)!

Among these tokens:
➡️ 15,298 $ETH ($52M) was stolen directly from the exchange; ➡️ 43,799 $ETH ($149M) was acquired by dumping various assets, notably 5.43T $SHIB ($90.2M), 20.5M $MATIC ($10.2M),… pic.twitter.com/x23kGBsqyd

— Spot On Chain (@spotonchain) July 19, 2024

Do the indicators for Shiba Inu give a sign of resurrection?

Despite experiencing a daily price correction of about 7%, Shiba Inu witnessed some important metrics related to its ecosystem revive. For example, the burn rate resulted in almost 50 million tokens being sent to a blank address with a 450% increase in the last 24 hours. The USD value of this may be insignificant, but continuous efforts in this area can have a positive impact on the price.

Data shows that more than 41% of SHIB’s total supply has been burned. Reducing circulating supply can increase the value of the meme coin by causing scarcity. Shiba Inu whales have also been quite active recently. According to IntoTheBlock, the total daily volume (when each transaction exceeds $100,000) approached $900 million, showing an 1,800% increase compared to the figure observed on July 18. Some Shibarium metrics, such as active accounts, new transactions, and verified contract growth, have also been trending upwards in the past few days. It will be interesting to see if a SHIB Coin price recovery will follow the revival of the mentioned bullish indicators in the near future.

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