Shiba Inu, a dog-themed memecoin is in the spotlight as trillions of SHIB were reportedly stolen in a recent cybersecurity breach with the leading India-based cryptocurrency exchange, WaxirX. Reacting to the incident, Shiba Inu team member and marketing head, Lucie, in a heartfelt message has expressed her condolences to the SHIB holders affected by the hack, which saw millions of funds hijacked. 

Trillions Of Shiba Inu Stolen In WazirX Hack

In recent years, there has been a noticeable increase in the frequency and strength of cryptocurrency hacking, resulting in billions of dollars being taken from cryptocurrency platforms and revealing weaknesses throughout the ecosystem. WaxirX, an Indian crypto exchange is the latest platform to become a victim of these exploits.

A few hours ago, WazirX was reportedly exploited by cybercriminals, as cited by Lookonchain, a popular on-chain tracker on the X (formerly Twitter) platform. According to the on-chain tracker, the hackers successfully stole several crypto assets from WazirX worth over $230 million.

Shiba Inu was the top crypto asset that was stolen by the criminals, which was followed by Ethereum, MATIC, PEPE, USDT, GALA, and a few more. Specifically, the criminals snatched over 5.43 trillion SHIB, valued at a whopping $102 million from the cryptocurrency exchange.

Lookonchain reported that the crypto platform’s wallet address, WazirXIndia, was seen moving the funds to the unknown wallet address 0x04b2. Since the incident, the tracker noted that the wallet address has been dumbing the stolen assets, as the over 640.27 billion PEPE, worth around $7.6 million, taken by the intruders, have been sold.

Investors in cryptocurrencies are extremely concerned about the WaxirX security breach, especially those who have SHIB tokens on the exchange, prompting Shiba Inu’s team member Lucie‘s heartfelt message to SHIB victims involved in the breach.

 “I sincerely hope all SHIB holders get their money back and WazirXIndia fixes this,” Lucie stated. Lucie further emphasized that while the quantity of SHIB stolen from the platform is noteworthy, it is insignificant in comparison to the overall volume of SHIB. 

Thus she has urged the SHIBArmy not to be shaken down by the incident, underscoring the value of cooperation and support among members of the community. “Take this as an opportunity; I definitely will,” she added.

Need For Enhanced Safety Measures

Kaal Dhairya, the project’s developer has also expressed his sympathy to the SHIB holders who were harmed in the hack. Kaal revealed his displeasure towards the attack, while also urging the Shiba Inu community to stay strong during challenging times like this.

This breach highlights how crucial it is for crypto exchanges to provide enhanced measures to tackle cyber attacks and safeguard investors’ wealth, in order to maintain confidence within the digital asset industry.