Ethereum
U.Today’s Crypto News Roundup
Valeria Blokhina
U.Today’s daily news digest keeps you informed of the most important updates in the crypto industry
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U.Today presents the three main news stories of the past day.
$230 Million Hack Catches India’s Largest Exchange: Shiba Inu (SHIB), PEPE Among Those Affected
YesterdayCyvers Alert, a platform that provides real-time security alerts, detected Several suspicious transactions involving the Safe Multisig wallet of WazirX, India’s largest cryptocurrency exchange. It turned out that the exchange suffered a major security breach, which resulted in a loss of $234.90 million in cryptocurrencies; the funds were moved to a new address, with the caller of each transaction funded by Tornado Cash. As reported by Lookonchain, the list of stolen digital assets includes SHIB, ETH, MATIC, PEPE, USDT, and GALA. As of today, WazirX reported The incident has been reported to the Financial Intelligence Unit (FIU) and CERT-In. The exchange plans to trace the stolen funds, recover customer assets and conduct further analysis of the cyberattack.
Shiba Inu (SHIB) Soars 874% Across Major Metrics, Here’s Why
Shiba Inu Price Drops Following WazirX Hack experimented A significant drop of nearly 10%; of the over $230 million lost as a result of the hack attack, approximately $102 million is in SHIB. However, despite the negative event, one metric for Shiba Inu was on the rise. According to data from Shibburn, over the previous 24 hours, Shiba Inu’s burn rate skyrocketed by 874.74%. A total of 8.7 million tokens were sent to dead-end addresses, with the largest transaction being for approximately five million SHIB tokens. This burn event was a significant development as it occurred at a time when SHIB’s price needed a major surge to recover from the aftermath of the WazirX hack.
Will Ethereum (ETH) Hit $4,000 Next Week? 10 ETFs Launched
Ethereum could be about to experience a significant price increase 10 Ethereum ETFs, including VanEck Fidelity and Grayscale, have announced their launch next week. These ETFs could lead to substantial inflows into Ethereum, similar to the huge inflows that Bitcoin saw after ETF approval. Previously, when Bitcoin ETFs were approved, investor interest increased and substantial inflows followed, driving the price up. If Ethereum ETFs follow a similar path, Ethereum’s price could rise significantly. In the best-case scenario, Ethereum’s price could reach $4,000. However, such bullish sentiment should be approached with caution. At the time of writing, ETH is trading at $3,462, up 1.66% in the last 24 hours, according to CoinMarketCap.
About the Author
Valeria Blokhina
Valeria is the Community Manager at U.Today. She is passionate about crypto and believes that cryptocurrency is the future of finance. Currently, Valeria covers the latest news from the world of crypto and blockchain.