Market Volatility: WazirX Token Plummets Amid Delisting Rumors and Security Concerns
news
1 min read
WazirX (WRX) Token Dumps After Binance Delisting News
The crypto community has been gripped with uncertainty and concern following the recent development in the Indian exchange, WazirX. The Delhi High Court has ordered a fresh probe into allegations faced by the exchange, further casting a shadow over its credibility. This move comes despite police indicating no case was made against WazirX.
In response to these developments, WazirX’s WRX token has taken a drastic hit, plummeting nearly 98% off its all-time high of $5.88 reached in April 2021. The recent hack, which resulted in the loss of $230 million, had already sent the price tumbling.
The latest ruling by the Delhi High Court puts WazirX under intense scrutiny, as the exchange plans to restart operations amidst ongoing investigations and security concerns. The crypto community remains on high alert given the magnitude of the hack, with many investors questioning the exchange’s credibility in light of these events.
As a result of this delisting news from Binance and related security concerns, WazirX’s token price has taken a drastic hit, leaving investors worried about their investments.
Source: coinjournal.net
