• Shiba Inu erased 8% of its value on Thursday as CryptoQuant noted a transfer of over 5 trillion SHIB to exchanges. 
• WazirX hacker sold over $100 million in SHIB following the exploit, early on Thursday. 
• SHIB trades at $0.00001711, as the meme coin crumbles under selling pressure. 

Shiba Inu (SHIB), one of the largest meme coins in the crypto ecosystem suffered a steep correction early on Thursday, following a hack on an Indian crypto exchange. 

Data from on-chain intelligence tracker Arkham shows that WazirX exchange was exploited for over $102 million in SHIB tokens. Amidst panic selling from traders and the exploiter offloading the assets, SHIB faced a mass sell-off.