WazirX hack sees $200m in crypto swapped for ETH to thwart blocking

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: Jul 19 2024

CHR+0.357%

CELR-0.516%

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WazirX Hack Overview: Over $200 million was stolen from the Indian crypto exchange WazirX, with the hacker converting a significant portion of the assets into Ether (ETH) to avoid detection and potential freezing by authorities. The hack exploited vulnerabilities in the exchange's wallet management system.
Involvement of North Korea: Speculations suggest that North Korea's Lazarus group may be linked to the attack, as both blockchain analytics firms Elliptic and ZachXBT have pointed towards this possibility. WazirX has since halted withdrawals and is working on recovering the stolen funds.

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Technical Analysis for CHR

Technical Sentiment Analysis for Chromia (CHR) As of , Chromia (CHR) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for CHR stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.

Support, Resistance & Moving Averages From a structural perspective, CHR is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Chromia (CHR) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	0.0137	0.0185	0.0239	0.0287	0.0341	0.0389	0.0443
Fibonacci	0.0185	0.0224	0.0248	0.0287	0.0326	0.035	0.0389

About CHR

Chromia is a modular, relational blockchain platform that aims to make it easy for people to build decentralized applications (DApps). It was founded by ChromaWay, a company that has been working on blockchain solutions since 2014 for various sectors such as finance, real estate, gaming and public services. ChromaWay is also known for creating colored coins, which are user-defined assets on a blockchain that can represent anything from currencies to stocks to collectibles.Chromia’s vision is to enable a new generation of DApps that can scale beyond what is currently possible and address real-world problems in various domains such as gaming, social media, finance, healthcare, education, governance, and more.Some examples of DApps on Chromia include: My Neighbor Alice (ALICE), a multiplayer blockchain game; LAC PropertyChain, a land registry system; Green Assets Wallet, a platform for green bond verification; Hedget (HGET), a decentralized options protocol; Corite (CO), a music streaming service; Chain of Alliance (COA), a strategy game; Vault12, a digital asset custody solution; Domenation, a blockchain gaming project.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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