As hundreds of thousands of WazirX users wait for their locked funds to be redeemed on the exchange, WRX – WazirX’s own token – has suffered a 90% loss in value after being delisted from Binance. According to estimates, WazirX users are expected to suffer a loss of over Rs 50 crore following WRX’s crash due to delisting by Binance.
WRX tokens were part of the existing funds held by WazirX after the July 18 hack in which cryptocurrencies worth Rs 2,000 crore were stolen.
The latest Proof of Reserve report shared by CoinGabbar shows that there are a total of 21.52 million WRX tokens, worth INR 7.64 Cr at the current market price. Before the token was delisted from Binance, it was worth over 50 Cr.
Following the delisting news, the WRX token’s market cap fell from $100 million to just $7 million, according to market data from Coinmarketcap. This means that WRX token holdings…
