The Floki team has responded to the recent hack on WazirX, one of India’s leading cryptocurrency exchanges. The exploit resulted in a loss of over $230 million, including $4.7 million worth of FLOKI tokens.
In their statement, the Floki team highlighted three key points regarding the incident:
1. Exploiter’s FLOKI Holdings Nullified: The team confirmed that the exploiter has completely sold off all the FLOKI tokens obtained during the hack. Impressively, the market fully absorbed these sales, demonstrating Floki’s strong liquidity and market resilience. The hacker no longer holds any FLOKI tokens, ensuring no further impact from this exploit on the token’s market.
2. Support for WazirX and Affected Holders: The Floki team expressed empathy for both WazirX and the affected FLOKI holders on the exchange. They acknowledged WazirX’s swift action to pause withdrawals and its ongoing efforts to investigate the breach. The Floki team is actively collaborating with WazirX to assess the impact on FLOKI holders and minimize any adverse effects. They are hopeful that WazirX will recover from this incident and emerge stronger.
3. Commitment to Updates: The Floki team assured the community that they will provide updates if there are any new developments affecting those who held FLOKI on WazirX and were impacted by the hack.
ADDRESSING THE WAZIRX EXCHANGE EXPLOIT
It came to our notice earlier today that top Indian crypto exchange WazirX was exploited for over $230 million, $4.7 million of which was in the form of $FLOKI tokens.
We would like to highlight a few VERY IMPORTANT facts:
1. The… pic.twitter.com/B9ZoW1oTo6
— FLOKI (@RealFlokiInu) July 18, 2024
This incident underscores the importance of robust security measures in the crypto industry. The Floki team’s proactive response and collaboration with WazirX highlight their commitment to supporting their community and ensuring the stability of their token.
As the investigation continues, both Floki and WazirX are working diligently to mitigate the impact of the hack and protect their users’ interests.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!