WazirX (WRX) token drops after canceling news from Binance

The price of WazirX token dropped by more than 60% in 24 hours after Binance cancellation announcement. WRX, AKRO and BLZ will all be removed from the Binance platform. WazirX has faced challenges since its $230 million hack earlier this year.

The WazirX (WRX) token dropped sharply on Wednesday after the world's largest crypto exchange Binance announced the cancellation of the WazirX token.

Binance, the largest global cryptocurrency exchange, announced the cancellation of the WRX token along with two other tokens. The price of digital asset WXR has plunged more than 60% following a move by the world's largest crypto exchange.

The largest crypto exchange has said it will delete WRX, AKRO and BLZ from its platform. Specifically, until December 25, the exchange will remove the trading pairs WRX/USDT, AKRO/USDT, BLZ/USDT and BLZ/BTC.

Woe to the Wazirx

In addition to the Binance delisting, the WazirX token has suffered a price drop amid negative sentiment since the $230 million hack of the India-based crypto exchange earlier this year.

Part of this is the recent petition for a new criminal investigation into the abduction saga. As customers continue to complain about the exchange's handling of the hack, the Delhi High Court has ordered a fresh probe into the charges against the exchange.

The court order is that there should be a fresh status report by February 13, 2025 at the latest. As the crypto community raised security concerns about the exchange, the court's decision put WazirX on the spot despite police earlier saying there was no such issue. Made up.

Despite plans to resume operations, the Exchange Management Board of India is under investigation for digital asset security violations. As mentioned, the Wazirx hack, one of the biggest crypto attacks this year, cost the exchange $230 million.

WRX token price hit a 24-hour high of $0.2479 and fell to $0.09459. Following Binance's announcement and the ongoing hack issue, WRX declined to trade more than 98% from its April 2021 high of $5.88.