WazirX (WRX) token dumps after Binance delisting news
- The WazirX token’s price fell more than 60% in 24 hours after Binance’s delisting announcement.
- WRX, AKRO and BLZ will all be delisted from the Binance platform.
- WazirX has faced challenges since its $230 million hack earlier this year.
The WazirX (WRX) token dumped hard on Wednesday after the world’s largest crypto exchange Binance announced the delisting of the native WazirX token.
Binance, the largest global cryptocurrency exchange, announced delisting WRX token alongside other two tokens. The digital asset WXR price plunged by over 60% following the world’s largest crypto exchange move.
The largest crypto exchange said it would be delisting WRX, AKRO and BLZ from its platform. Notably, by Dec 25, the exchange will remove the trading pairs WRX/USDT, AKRO/USDT, BLZ/USDT and BLZ/BTC.
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WazirX woes
Besides Binance delisting hit, the WazirX token faces a price plunge amid negative sentiment since the India-based crypto exchange’s $230 million hack earlier in the year.
Part of this is the recent filing of a petition to have fresh criminal investigations around the hack saga. As customers continue to fault the exchange’s handling of the aftermath of the hack, the Delhi High Court ordered for a fresh probe on the allegations facing the exchange.
The court’s order is that there must be a new status report latest by February 13, 2025. Given the crypto community has raised security concerns related to the exchange, the court’s ruling puts WazirX on the spot even though the police had earlier indicated no case was made.
Despite plans to restart operations, the Indian exchange’s management is under scrutiny for a digital asset security breach. As noted, the WazirX hack, one of this year’s biggest crypto attacks, saw the exchange lose $230 million.
The WRX token price slipped to a low of $0.09459 after hitting a 24-hour high of $0.2479. Following Binance announcement and the ongoing hack issue, WRX has declined to trade more than 98% off its all-time high of $5.88 reached in April 2021.