• WSM hackers had been accountable for a major drop within the token over the previous 24 hours.
• For the reason that assault, the hacker has bought over 368 million WSMs value roughly $3.3 million.
• The pockets deal with related to the hacker nonetheless holds 396.2 million tokens.

Blockchain evaluation platform Spot On Chain has linked the latest drop within the value of Wall Road Meme (WSM) to the actions of hackers who made off with a considerable amount of tokens after Thursday's assault.

In a latest publish on X (previously Twitter), the analytics platform famous that hackers have began promoting Ether tokens on Uniswap and MEXC. Thus far, the hacker has bought over 368 million of his WSMs (value about $3.3 million) inside hours of the exploit.

On account of the large dumping, the token has fallen by practically 35% prior to now 24 hours, just like the time the Spot On Chain report was written. On the time of writing, WSM had recovered barely, however was nonetheless down 22.96% prior to now 24 hours, in line with information from CoinMarketCap.

Following yesterday's assault, the WSM venture crew revealed that it has moved to thwart the hackers' actions. In an replace posted on X yesterday, the crew introduced that it has withdrawn the WSM liquidity pool and WSM buying and selling pairs on CEX.

In accordance with Spot On Chain, the hackers nonetheless maintain 396.2 million WSM tokens out of the 769.4 million that had been exploited in the course of the assault. On the time of reporting, the worth of the tokens saved in 17 totally different pockets addresses is equal to roughly $3.58 million.

Given WSM’s present market capitalization, WSM’s worth can be severely compromised if hackers dumped the remaining tokens. At present, the meme community has a market capitalization of $17.4 million and a circulating provide of 1.92 billion tokens.