{"id":27133,"date":"2024-08-19T21:30:48","date_gmt":"2024-08-19T18:30:48","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=27133"},"modified":"2024-08-19T18:19:03","modified_gmt":"2024-08-19T15:19:03","slug":"liminal-denies-liability-wazirx-hack-loses-230-million","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/liminal-denies-liability-wazirx-hack-loses-230-million\/","title":{"rendered":"Liminal Denies Liability: WazirX Hack Loses $230 Million"},"content":{"rendered":"

WazirX exchange announced that its systems were not damaged in the $230 million cyberattack. Following the large-scale attack, forensic investigations found WazirX\u2019s former infrastructure and storage partner Liminal responsible. However, Liminal vehemently denied these claims and raised questions about WazirX\u2019s security systems.<\/p>\n

WazirX Exchange Cleared After Forensic Investigation<\/h2>\n

Last month, WazirX, one of India\u2019s largest crypto exchanges, was rocked by a $230 million hack. The attack stole about 45% of the exchange\u2019s assets. The attack targeted a multisig wallet that required multiple private keys. Five of the six authorized signatories on this wallet belonged to WazirX and one to Liminal.<\/p>\n

The exchange stated, \u201cAll transactions made through the Multisig wallet required approval from three members from WazirX first, followed by final authorization from Liminal.\u201d However, the forensic report stated, \u201cNo security breach was detected on the three laptops used for transaction signing.\u201d<\/p>\n

According to the Mandiant Solutions report, findings emerged that the cyber attack was caused by Liminal\u2019s vulnerabilities. WazirX officials stated that they have full confidence in the forensic report and will fully cooperate to resolve the situation. A WazirX spokesperson said, \u201cWe have full confidence in the investigation agency and will fully cooperate with them. We are actively working to recover the stolen funds and hope that those responsible will be brought to justice.\u201d<\/p>\n

Might interest you: Crypto Market Awaits FOMC Minutes and Fed Chair Powell\u2019s Speech<\/a><\/em><\/p>\n

WazirX has implemented a number of recovery strategies following the hack. The platform has launched a Bounty Program that rewards up to $10,000 in USDT and has published a survey to gather user opinions. The exchange is also in talks with its competitors and other firms in the industry for support or a possible acquisition.<\/p>\n

WazirX has previously reached out to its former partner Binance, which controls a large amount of revenue and $80 million worth of WRX tokens.<\/p>\n

\n

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0Telegram,\u00a0<\/strong><\/a>YouTube<\/strong><\/a>,\u00a0and\u00a0Twitter<\/strong><\/a>\u00a0channels for the latest news and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

WazirX exchange announced that its systems were not damaged in the $230 million cyberattack. Following the large-scale attack, forensic investigations found WazirX\u2019s former infrastructure and storage partner Liminal responsible. However, Liminal vehemently denied these claims and raised questions about WazirX\u2019s security systems. WazirX Exchange Cleared After Forensic Investigation Last month, WazirX, one of India\u2019s largest<\/p>\n","protected":false},"author":6,"featured_media":25396,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,11,2],"tags":[7464,8001,7465],"class_list":["post-27133","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-exchange-news","category-news","tag-wazirx","tag-wazirx-exchange","tag-wazirx-hack"],"yoast_head":"\nLiminal Denies Liability: WazirX Hack Loses $230 Million - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/liminal-denies-liability-wazirx-hack-loses-230-million\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Liminal Denies Liability: WazirX Hack Loses $230 Million - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"WazirX exchange announced that its systems were not damaged in the $230 million cyberattack. 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