Bitcoin
Cryptocurrency exchange WazirX loses $230 million in cyber attack
Indian Cryptocurrency Exchange Wazir X said on Thursday (July 18) that it lost more than $230 million in a cyber attack.
“This is a force majeure event beyond our control, but we are sparing no effort to locate and recover the funds,” the company said in a statement. preliminary report posted on its website. “We have already blocked some deposits and have reached out to concerned wallets for recovery. We are in contact with the best resources to help us in this endeavor.”
WazirX said in the report that the cyberattack targeted one of its multisig wallets that use the services of Injunctiondigital asset custody and wallet infrastructure.
The wallet has six signatories responsible for transaction verifications, and approval from three WazirX signatories and one Liminal signatory was typically required for a transaction, according to the report.
The company also whitelisted destination addresses to enhance security, according to the report.
“The cyberattack arose from a discrepancy between the data displayed on the Liminal interface and the actual content of the transaction,” WazirX said in the report. “During the cyberattack, there was a mismatch between the information displayed on the Liminal interface and what was actually signed. We suspect that the payload was replaced to transfer control of the wallet to an attacker.”
Liminal said on a Thursday publish at X that its platform has not been breached and that its infrastructure, wallets and assets remain secure.
“Our preliminary investigations show that one of the self-custodial multisig smart contract wallets created outside of the Liminal ecosystem has been compromised,” the company said in the post.
Added in another publish that WazirX wallets created on the Liminal platform remain secure and that all malicious transactions occur outside the Liminal platform.
“Following our strict security protocols, the Liminal team is also readily assisting the WazirX team as they carry out their investigation,” Liminal said in a third publish.
Blockchain Data Company TRM Laboratories said on July 5 that the amount of cryptocurrency stolen by hackers more than doubled compared to last year.
The total increased from $657 million in crypto in the first half of 2023 to $1.38 billion in the first half of 2024, according to the company.
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