SHIB Official: “Don’t Panic” – Here’s What’s Happening

The official marketing lead of the Shiba Inu team, Lucie, has issued a message to the Shiba Inu army, calling on them to stop panicking about the recent hacker attack on WazirX.

WazirX hacker sells trillions of SHIB

Lucie once again urged the SHIB army not to yield to the panic they may feel this week after an anonymous hacker breached the security systems of India’s largest cryptocurrency exchange, WazirX, and stole roughly $249 million worth of crypto. That enormous amount included 640.27 billion PEPE, 15,298 ETH, as well as 5.43 trillion Shiba Inu.

By now, the cybercriminal, according to Lucie’s statement, has sold all of the trillions of stolen SHIB for 26,535 ETH – that is the equivalent of $92 million.

Popular Smart Wallet tracker on X @lookonchain reported that serious market makers, such as Wintermute, purchased SHIB from DEXes and transferred them to regular centralized exchanges to sell them for arbitrage. The data source concluded that “the price drop of SHIB was not serious.” This price plummet, which happened on Thursday after the hack took the second largest meme cryptocurrency down approximately 11%, pushing it further away from burning a zero and reaching the $0.00002 level.

Over the past 24 hours, SHIB has attempted to recover its sudden massive price loss and gained slightly over 4%; however, another decline pushed it back down. At the time of this writing, the popular meme coin is changing hands at $0.00001720 after collapsing from $0.00001891 on Thursday.

Whale Alert spotted a massive 3,632,752,465,343 SHIB transaction on Thursday worth $63,282,547. That massive transfer was made between anonymous crypto wallets and is also believed to be made in connection with the aforementioned WazirX hack.

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Lucie's message to SHIB army

In a post published earlier, Lucie sent her condolences to the SHIB army and said she hoped that all those who lost their Shiba Inu to the hacker will be able to retrieve their meme coins. 

She also pointed out that even though this security breach and hack were unfortunate, the stolen trillions of SHIB are a tiny amount compared to the overall SHIB volume. Lucie suggested taking this as an opportunity, hinting that one can easily buy the meme coin on the dip now.