WazirX Exploiter Begins Selling $SHIB Tokens

The WazirX exploiter has started selling $SHIB tokens, recently selling 35 billion $SHIB worth about $618,000. According to Lookonchain, the exploiter still holds a massive amount of $SHIB, around 5.4 trillion tokens. The value of these tokens is $95.45 million. This is part of a larger theft where the exploiter stole approximately $230 million in assets from WazirX.

Note that #WazirX exploiter has started selling $SHIB!#WazirX exploiter has sold 35B $SHIB($618K) and currently holds 5.4T $SHIB($95.45M).https://t.co/nRHmm24ZSl pic.twitter.com/DRzmaIbiqH

— Lookonchain (@lookonchain) July 18, 2024

Stolen Crypto Assets Worth $230M Moved to Wallet ‘0x04b2

The lost tokens include 5.43 trillion $SHIB worth $102 million, 15,298 $ETH worth $52.5 million, 20.5 million $MATIC worth $11.24 million, 640.27 billion $PEPE worth $7.6 million, 5.79 million $USDT, and 135 million $GALA worth $3.5 million. These assets were transferred from the WazirX wallet to a wallet named as “0x04b2.”

Currently, a wallet with the address “0x04b2” is actively involved in selling these assets. It has already sold 640.27 billion $PEPE which is equivalent to $7.6 million. The constant selling of such large volumes of cryptocurrency has been cited as a source of concern within the market.

WazirX and Community Work to Address Stolen Asset Impact

The actions of the exploiter are followed closely by the crypto community and monitoring platforms like Lookonchain. On the other hand, many people are concerned about the effects of these operations on the prices of such assets.

WazirX and the cryptocurrency community is trying to mitigate the problem. However, the size of the theft and the constant sales of the stolen assets prove that the problem of securing digital assets and freezing the stolen funds is not easy in the decentralized financial space.