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Wazirx Files Police Complaint After $230 Million Cyberattack, Collaborates with Global Partners for Recovery

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Indian crypto exchange Wazirx files a police complaint and pursues legal action after a $230 million cyberattack, working with global exchanges and forensic experts to recover stolen funds.

Bollywood Fever: Indian cryptocurrency exchange Wazirx has taken legal action and filed a police complaint following a devastating cyberattack that resulted in the theft of over $230 million. The exchange is working closely with global partners and authorities to trace and recover the stolen assets.

Wazirx’s Response to the Breach:

On Friday, Wazirx provided an update regarding the security breach disclosed the previous day. The exchange reported the incident to the Financial Intelligence Unit (FIU) and CERT-In and is reaching out to over 500 exchanges to block the identified addresses involved in the attack.

“We have reported the incident to the Financial Intelligence Unit (FIU) and CERT-In. We’re reaching out to 500+ exchanges to block the identified addresses,” Wazirx stated on the social media platform X. “Many exchanges are cooperating with us, and we are actively working with them on additional resources to aid our recovery efforts.”

Wazirx’s immediate plans include:

  • Tracing the stolen funds.
  • Recovering customer assets.
  • Conducting a deeper analysis of the cyberattack.
  • Collaborating with forensic experts and law enforcement agencies to identify and apprehend the perpetrators.
wazirx

Liminal Custody’s Statement:

Liminal Custody, which provides security solutions for digital assets, also issued a statement addressing the situation. Wazirx had initially alleged that the hacked wallet was operated using Liminal’s digital asset custody and wallet infrastructure, and the cyberattack stemmed from a discrepancy between the data displayed on Liminal’s interface and the transaction’s actual contents.

However, Liminal clarified on X: “Our preliminary investigations show that one of the self custody multi-sig smart contract wallets created outside of the Liminal ecosystem has been compromised. We can confirm that Liminal’s platform is not breached and Liminal’s infrastructure, wallets and assets continue to remain safe.”

Liminal emphasized that all Wazirx wallets created on their platform remain secure and protected. The company noted that all malicious transactions to the attacker’s addresses occurred outside of the Liminal platform. “Adhering to our rigorous security protocols, the Liminal team is also readily assisting the Wazirx team as they carry out their investigation,” Liminal Custody concluded.

Conclusion:

As Wazirx pursues legal action and collaborates with global partners and forensic experts, the exchange remains focused on recovering the stolen funds and enhancing security measures to prevent future breaches. The incident highlights the critical importance of robust security protocols in the rapidly evolving cryptocurrency landscape.


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