Mumbai-based WazirX crypto exchange revealed a $230 million hack targeting its multi-sig wallet. The breach was due to a mismatch in data displayed by Liminal’s interface, which manages the platform’s wallet infrastructure.
The multi-sig wallet needed signatures from three WazirX team members and one from Liminal. During the attack, the payload was altered, granting the attacker control.
WazirX is determined to recover the stolen funds, but recovery seems unlikely as the hack shows signs of the notorious North Korean group, Lazarus. Lazarus has been involved in major crypto exploits like Axie Infinity’s $600 million Ronin Bridge hack.
Arkham reported nearly half of the stolen funds have been offloaded, with a potential to freeze $102 million depending on the selling destination.
This incident underlines the critical need for enhanced security measures in crypto exchanges to protect against sophisticated cyber threats.
