WazirX and Liminal Custody, the lead actors of yesterday’s hacking fiasco are playing the Blame Game with each other for the success of the attack. The staggering $230 million crypto theft has exposed a bitter rift between two companies entrusted with safeguarding digital assets, leaving users scrambling for answers.
WazirX claims the attack targeted a multi-signature wallet (multi-sig wallet) – a secure storage solution requiring multiple approvals for transactions – that relied on Liminal Custody’s services. According to WazirX, a discrepancy between the data displayed on Liminal’s interface and the actual contents of the transaction allowed attackers to exploit a vulnerability and steal the funds.
Liminal Custody has yet to address the specific details of the exploit but has made counter-claims, alleging that three WazirX wallets were compromised before the attack took place. This back-and-forth leaves WazirX users in a precarious position, unsure of who is accountable for the missing funds and whether they will be reimbursed.
According to claims from cryptocurrency researchers like zackXBT and crypto security companies like Elliptic, security experts believe the hack may be connected to North Korean hackers. The incident highlights the growing concerns surrounding the security of digital assets and the potential risks associated with third-party custodians.
With both companies entrenched in their positions, it remains unclear how WazirX will handle the situation or if users will be compensated for their losses. The incident raises critical questions about transparency and accountability within the cryptocurrency industry, and regulatory bodies in India may need to step in to ensure user protection and prevent similar incidents in the future.
Also Read: WazirX Files Police Complaint After $230M Cyber Attack
