On July 18, 2024, Indian crypto exchange WazirX was hacked, losing over $230 million in crypto assets. The breach occurred through a compromised multisig wallet secured by Liminal’s infrastructure.
Despite robust security measures, attackers exploited a discrepancy in Liminal’s interface, seizing 15,298 ETH and other tokens, converting them to 59,097 ETH. WazirX immediately paused withdrawals, filed a police complaint, and reported the incident to authorities.
WazirX and Liminal blamed each other for the security lapse. Forensic teams and law enforcement are involved, but the hacker’s use of Tornado Cash complicates recovery efforts. The involvement of the Lazarus Group adds another layer of complexity.
For investors, recovery depends on forensic success, community support, legal actions, and potential compensation plans. The quick freeze of exploiter wallets offers hope, but challenges remain.
This incident underscores the need for enhanced security and international cooperation in the crypto space.
