Late Thursday, WazirX confirmed that one of its multisig wallets at a cryptocurrency exchange had been hit by a cyber attack, resulting in a loss amounting to over $230 million.
PC: Global Crypto Trend and Blockchain
The company’s preliminary investigation disclosed that the wallet was being used through the digital asset custody and wallet infrastructure services of Liminal since February 2023.
WazirX added that what the cyber attackers did was to exploit the discrepancy between what is seen on Liminal’s interface and what a transaction actually holds.
“During the cyber attack, there was a mismatch between the information displayed on Liminal’s interface and what was actually signed. We suspect the payload was replaced to transfer wallet control to an attacker”, explained a blog post from the company.
It further assured that the crypto exchange was leaving no stone unturned to trace and recover the funds. The company has successfully blocked a few deposits and reached out to concerned wallets for recovery.
Liminal Custody clarified that its platform was not breached. It further added that the company was aiding WazirX in its inquiry into the cyber breach.
It also mentioned that all the malicious transactions to the attacker’s addresses have taken place outside of the Liminal platform.
“Our preliminary investigations show that one of the self-custody multi-sig smart contract wallets created outside of the Liminal ecosystem has been compromised. We can confirm that Liminal’s platform is not breached and Liminal’s infrastructure, wallets and assets continue to remain safe,” a statement said.
The company has also assured that all WazirX wallets created on the Liminal platform will still be safe and secure.
Elliptic says that hackers based in North Korea are likely to be behind the security breach. The website further breaks down the withdrawal as $96.7 million for Shibu Inu, $52.6 million for Ether, $11 million for Matic, and $7.6 million for Pepe.
It is one of the largest crypto heists ever, with a loss of funds worth more than $200 million. In March 2022, hackers attacked the Ronnin network and ran away with cryptocurrencies worth $625 million. This heist is largely blamed on North Korean hackers, the Lazarus Group, in this case.
In summary, Crypto exchange WazirX gets hit by cyber attack which results in it losing $230 Mn. It happens on 18th July, late Thursday, WazirX confirmed that one of its multisig wallets at a cryptocurrency exchange had been hit by a cyber attack, resulting in the loss.
