WazirX Hackers Offload Stolen PUSH Cryptocurrency, Crashing Price by 48%

IconCryptoNewsTerminal Staff22 Jul, 2024

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WazirX Hackers Offload Stolen PUSH Cryptocurrency, Crashing Price by 48%

After draining the WazirX exchange's holdings of the PUSH cryptocurrency, hackers have dumped their ill-gotten gains, causing the price of PUSH to plummet. At the time of writing, PUSH is trading at $0.09685, down 33.69% according to CoinMarketCap, after falling as low as $0.08 during the sell-off. The hackers' actions have dealt a significant blow to the value of PUSH, which has lost nearly half of its value in the aftermath of the hack. Harsh, founder of the Push protocol, stated that "we are currently working closely with the WazirX team to resolve this issue." WazirX has not yet commented on the hack or the subsequent sale of PUSH by the hackers. The hack and subsequent sell-off serve as a reminder of the importance of robust security measures for cryptocurrency exchanges. It remains to be seen what impact this incident will have on the reputation of WazirX and the wider cryptocurrency industry.

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