News
U.Today Crypto News Digest
Valeria Blokhina
U.Today’s daily news bulletin keeps you informed about the most important updates in the cryptocurrency industry
Read U.TODAY on
Google News
U.Today presents the top three stories of the last day.
$230M Hack Rocks India’s Largest Exchange: Shiba Inu (SHIB), PEPE Among Those Affected
YesterdayCyvers Alert, a platform that provides real-time security alerts, detected multiple suspicious transactions involving the Safe Multisig wallet of WazirX, India’s largest cryptocurrency exchange. As it turns out, the exchange suffered a major security breach, resulting in the loss of $234.90 million in cryptocurrency; the funds were transferred 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 at the Financial Intelligence Unit (FIU) and CERT-In. The exchange plans to trace the stolen funds, recover customer assets, and conduct a deeper analysis of the cyberattack.
Shiba Inu (SHIB) Skyrockets 874% in Key Metric, Here’s Why
After WazirX Hack, Shiba Inu Price expert a significant decline, down nearly 10%; of the more than $230 million lost in the hack, about $102 million is in SHIB. However, despite the negative event, one Shiba Inu metric was on the rise. According to Shibburn data, in the previous 24 hours, the Shiba Inu burn rate skyrocketed by 874.74%. A total of 8.7 million tokens were sent to dead-end addresses, with the largest transaction carrying about five million SHIB tokens. This burn event was a significant development, as it occurred at a time when the price of SHIB needed a major surge to recover from the aftermath of the WazirX hack.
Will Ethereum (ETH) Hit $4,000 Next Week? 10 ETFs Coming Soon
Ethereum may be on the verge of a significant increase in prices as 10 Ethereum ETFs, including VanEck Fidelity and Grayscale, have announced their upcoming launches next week. These ETFs could lead to large inflows into Ethereum, similar to the massive inflows Bitcoin experienced after ETF approval. Previously, when Bitcoin ETFs were approved, investor interest increased and large inflows followed, driving prices higher. If Ethereum ETFs follow a similar path, Ethereum price could rise dramatically. In the best-case scenario, Ethereum 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% over the past 24 hours, according to CoinMarketCap.
About the author
Valeria Blokhina
Valeria is the community manager of U.Today. She is a cryptocurrency enthusiast and believes that cryptocurrencies are the future of finance. Valeria currently covers the latest news in the world of cryptocurrencies and blockchain.