• The worth of WazirX tokens fell over 60% within the 24 hours following 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.

WazirX (WRX) tokens plummeted on Wednesday after the world's largest cryptocurrency trade, Binance, introduced the delisting of its native WazirX token.

Binance, the world's largest cryptocurrency trade, introduced the delisting of the WRX token together with two different tokens. The worth of the digital asset WXR plummeted by greater than 60% following the transfer by the world's largest cryptocurrency trade.

The most important cryptocurrency trade introduced that it’ll delist WRX, AKRO, and BLZ from its platform. Particularly, the trade plans to take away the next buying and selling pairs by December twenty fifth: WRX/USDT, AKRO/USDT, BLZ/USDT, and BLZ/BTC.

WazirX's woes

Along with the blow from the Binance delisting, the WazirX token is dealing with a steep value drop amid unfavorable sentiment for the reason that India-based cryptocurrency trade was hit with a $230 million hack earlier this yr. .

As a part of this, a petition was not too long ago filed calling for a brand new legal investigation into the hacking incident. The Delhi Excessive Courtroom has ordered a contemporary probe into the allegations confronted by the trade as clients proceed to criticize the trade's response following the hack.

The court docket's order states {that a} new standing report should be submitted by February 13, 2025 on the newest. Provided that the crypto group has raised safety issues associated to the trade, the court docket's ruling has shut down WazirX from the location, despite the fact that the police had beforehand indicated there was no criminality. It was determined to be positioned in I made it.

Regardless of plans to renew operations, Indian trade executives are underneath intense scrutiny over safety breaches of digital belongings. As talked about earlier, the WazirX hack, one of many largest cryptocurrency assaults of the yr, price the trade $230 million in losses.

WRX token value hit a 24-hour excessive of $0.2479 earlier than falling to a low of $0.09459. Following Binance’s announcement and ongoing hacking points, WRX has rejected greater than 98% of trades from its all-time excessive of $5.88 hit in April 2021.