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WazirX exchange announced that its systems were not damaged in the $230 million cyberattack. Following the large-scale attack, forensic investigations found WazirX’s former infrastructure and storage partner Liminal responsible. However, Liminal vehemently denied these claims and raised questions about WazirX’s security systems.
WazirX Exchange Cleared After Forensic Investigation
Last month, WazirX, one of India’s largest crypto exchanges, was rocked by a $230 million hack. The attack stole about 45% of the exchange’s 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.
The exchange stated, “All transactions made through the Multisig wallet required approval from three members from WazirX first, followed by final authorization from Liminal.” However, the forensic report stated, “No security breach was detected on the three laptops used for transaction signing.”
According to the Mandiant Solutions report, findings emerged that the cyber attack was caused by Liminal’s 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, “We 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.”
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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.
WazirX has previously reached out to its former partner Binance, which controls a large amount of revenue and $80 million worth of WRX tokens.
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