Omkar Godbole is a Co-Managing Editor on CoinDesk's Markets team.
SHIB has lost 6% since the attacker drained $100 million worth of the token from the Indian exchange.at Indian exchange WazirX early Thursday, as well as the platform's native token, are experiencing significant losses in their market values after the hack drained roughly 50% of the exchange's reserves.WazirX's WRX token is trading 15% lower at just over 14 cents, according to Coingecko data.
Notably, the bitcoin-rupee pair has declined by 11% to 5.1 million rupees , trading at a massive discount to prices on rival exchange CoinDCX, where the cryptocurrency changed hands at 5.7 million rupees. BTC's global average dollar-denominated price traded 1% higher on the day at $61,800. The largest cryptocurrency by market value is priced around $64,900 according to CoinDesk Indices data.Meanwhile, the USDT-INR pair on WazirX has slipped by 8%.
The discounts in BTC, USDT and other cryptocurrencies on WazirX likely reflect panic selling by investors and the rush for fiat/cash in the wake of the hack.in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence.
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