⇓ Attack, Recovery and Potential - A Tale of WRX Coin

The recent events impacting the WRX coin depict a scenario of confluence; crisis, recovery, and predictions creating significant market ripples. The Indian cryptocurrency exchange, **WazirX**, saw its native token WRX price predictions for 2024, 2025, and even 2030 buoyantly optimistic despite the hurdles it faced this year. Complications arose when **hackers drained a whopping $235M** from WazirX causing the WRX value to drop 15%. Despite the hack controversy, WazirX's native coin WRX remained bullish. In reaction to the hack, WazirX moved its assets to **new MultiSig** and planned to resume withdrawals. WRX token also saw its value increase by 250% to an all-time high at one point. Amid the recovery plan dispute, **WazirX asked Binance for a lifeline** - a revelation that also confirmed Binance as the controller of the WRX token. This crisis has placed the **investors' funds in a limbo**, with the recovery process still ongoing. **WazirX plans third party audits** and publishes proof of reserves, with Shiba Inu coins as their largest holding, while it enables INR deposits and withdrawals. The WRX coin might hold a **strong bearish approach for a short-term**, mostly due to the turbulence caused by the hacking incident. In a separate incident, WazirX faced the Indian taxman who recovered $6.62M from the exchange for allegedly evading tax on commission.

WRX Coin News Analytics from Mon, 29 Mar 2010 07:00:00 GMT to Thu, 22 Aug 2024 07:00:00 GMT - Rating -8 - Innovation -2 - Information 5 - Rumor 0