- The WazirX token’s value fell greater than 60% in 24 hours after Binance’s delisting announcement.
- WRX, AKRO and BLZ will all be delisted from the Binance platform.
- WazirX has confronted challenges since its $230 million hack earlier this yr.
The WazirX (WRX) token dumped onerous on Wednesday after the world’s largest crypto trade Binance introduced the delisting of the native WazirX token.
Binance, the biggest world cryptocurrency trade, introduced delisting WRX token alongside different two tokens. The digital asset WXR value plunged by over 60% following the world’s largest crypto trade transfer.
The biggest crypto trade mentioned it might be delisting WRX, AKRO and BLZ from its platform. Notably, by Dec 25, the trade will take away the buying and selling pairs WRX/USDT, AKRO/USDT, BLZ/USDT and BLZ/BTC.
WazirX woes
In addition to Binance delisting hit, the WazirX token faces a value plunge amid adverse sentiment because the India-based crypto trade’s $230 million hack earlier within the yr.
A part of that is the current submitting of a petition to have recent legal investigations across the hack saga. As prospects proceed to fault the trade’s dealing with of the aftermath of the hack, the Delhi Excessive Courtroom ordered for a recent probe on the allegations dealing with the trade.
The courtroom’s order is that there should be a brand new standing report newest by February 13, 2025. Given the crypto neighborhood has raised safety considerations associated to the trade, the courtroom’s ruling places WazirX on the spot although the police had earlier indicated no case was made.
Regardless of plans to restart operations, the Indian trade’s administration is underneath scrutiny for a digital asset safety breach. As famous, the WazirX hack, considered one of this yr’s largest crypto assaults, noticed the trade lose $230 million.
The WRX token value slipped to a low of $0.09459 after hitting a 24-hour excessive of $0.2479. Following Binance announcement and the continued hack difficulty, WRX has declined to commerce greater than 98% off its all-time excessive of $5.88 reached in April 2021.
