Indian cryptocurrency exchange WazirX hacked

Indian crypto exchange falls victim to $235M hack

WazirX temporarily suspends crypto deposits and withdrawals after

WazirX cryptocurrency exchange halts withdrawals after security breach

• Crypto platform WazirX faces security breach, sees withdrawal of $230 million.

Indian crypto exchange WazirX experienced over $230 million in withdrawals during early European hours on Thursday due to a security breach that impacted one of its wallets, resulting in the loss of user funds.

“We're aware that one of our multisig wallets has experienced a security breach. Our team is actively investigating the incident. To ensure the safety of your assets, INR and crypto withdrawals will be temporarily paused. Thank you for your patience and understanding. We'll keep you posted with further updates,” the crypto platform said in a post on X.

Protect your X account from scammers!X account is vital in crypto but vulnerable to attacks, as we see more often.Use strong passwords, 2FA, and stay informed to keep your account safe.Get safety details here ⤵️www.binance.com/en/blog/s…

NEW: Hackers have stolen around $230 million from Indian crypto exchange WazirX, which recently reported holdings of about $500 million.Crypto security firm Elliptic says the hackers appear to be North Korean.by @refsrctechcrunch.com/2024/0

Hey bhagwaan , shocking news .

How will they recover this now ? Can they trace the culprits ?

News update on Wazirx hacking

According to its preliminary findings, the attack likely originated from Liminal’s infrastructure, bypassing their final verification step, as evidenced by the use of 3 WazirX signatures and 1 Liminal signature.

Liminal is a digital asset management platform that helps secure and manage cryptocurrency transactions through a structured and secure process. It is specifically designed to handle high-value transactions and prevent unauthorised or malicious transfers.

As per the company, the attack involved a contract upgrade that Liminal’s interface reportedly does not permit.

The findings further revealed that the malicious transaction was not sent to any of the whitelisted destination addresses, which should have been blocked by Liminal’s firewall and whitelist policy.

“Contrary to some reports by self-proclaimed crypto experts on social media, WazirX did not sign any malicious transactions 8 days before the attack. The attacker had created smart contracts on July 10, 2024, but these had no interaction with the WazirX wallet until July 18, 2024,” the company said in a blog post.

WazirX’s security breach impacted one of its wallets Safe Multisig on the Ethereum network, resulting in the loss of user funds.

Indian crypto exchange Wazirx has provided an update on its progress to enable users to withdraw funds and resume trading on its platform following a cyberattack that caused a loss of over $230 million. “Our preliminary investigation reveals no evidence of compromise on our signers’ machines. We are continuing to explore all possible sources of the breach,” the exchange stated.