Wall Road Memes Plummets 35% as Hacker Sells Over 368M Tokens

• WSM hacker liable for token’s large drop up to now 24 hours. 
• The hacker has bought over 368 million WSM price round $3.3 million because the assault. 
• Pockets addresses linked to the hacker nonetheless maintain 396.2 million tokens.

Blockchain analytics platform Spot On Chain has linked the current drop in Wall Road Memes’ (WSM) value to the actions of the hacker who made away with a major quantity of the tokens following an assault on Thursday. 

In a current put up on X (previously Twitter), the analytics platform famous that the hacker had began promoting the tokens for Ether on Uniswap and MEXC. Up to now, the hacker has bought over 368 million WSM price round $3.3 million within the hours because the exploit. 

Because of the large dump, the token fell practically 35% within the final 24 hours, as on the time Spot On Chain’s report was made. On the time of press, the WSM had made a slight restoration however was nonetheless down 22.96% up to now 24 hours, in line with knowledge from CoinMarketCap.

Following yesterday’s assault, the WSM undertaking crew disclosed that they had moved to dam the hacker’s actions. In an replace posted on X yesterday, the crew mentioned it had withdrawn the WSM liquidity pool and WSM buying and selling pairs on CEXs. 

Based on Spot On Chain, the hacker nonetheless holds 396.2 million WSM tokens out of the 769.4 million exploited through the assault. On the time of the report, the tokens saved in 17 completely different pockets addresses are price round $3.58million. 

Given WSM’s present whole market capitalization, a dump of the remaining token by the hacker would considerably damage WSM’s worth. At present, the meme community has a complete market cap of $17.4 million and a circulating provide of 1.92 billion tokens.