A major Shiba Inu (SHIB) developer has issued a warning to the SHIB community about a recent hack on WazirX, a popular Indian crypto exchange. The hack resulted in the theft of over $235 million in crypto assets, including a significant amount of SHIB.
What Happened?
The hack targeted WazirX’s secure wallet, compromising its security and allowing malicious actors to steal a large amount of various cryptocurrencies, including Pepe (PEPE), Tether (USDT), Gala (GALA), Ethereum (ETH), Shiba Inu (SHIB), and Floki (FLOKI).
Developer’s Warning
The Shiba Inu developer, Kaal Dhairya, urged the community to be vigilant and reminded everyone of the importance of safeguarding their private keys. He emphasized the mantra “Not your keys, not your crypto,” highlighting the need for investors to take full responsibility for securing their crypto assets.
Shiba Inu Price Takes a Hit
Following the hack, the price of Shiba Inu dropped significantly, plummeting by 6.39% and falling below the $0.00002 price mark. This decline comes after a period of relative stability and slight gains for SHIB. The hack has likely instilled a sense of bearish sentiment among investors, causing them to re-evaluate their positions.
What Can You Do?
The developer’s warning serves as a reminder for all crypto investors to prioritize security. Here are some key takeaways:
- Secure your private keys: Never share your private keys with anyone and store them securely.
- Be cautious of phishing attempts: Be wary of suspicious links and emails that may try to steal your login credentials.
- Use reputable exchanges: Choose exchanges with a strong security track record and robust security measures.
- Stay informed: Keep up-to-date with the latest security threats and best practices.
The recent hack on WazirX serves as a stark reminder of the importance of cybersecurity in the crypto space. By staying vigilant and taking necessary precautions, you can help protect yourself from falling victim to similar attacks.
