Recently, WazirX, one of the major crypto exchanges, hit the news with a cyber attack report. Over $230 million was compromised from one of the Multisig wallets on its platform. Following up on this critical breach, WazirX approached the highly professional services of Mandiant, a well-known cyber security firm and a subsidiary of Google, for detailed forensic analysis to detect the extent and source of the compromise.
The Mandiant report finally brought relief to WazirX. In its finding, the cyber experts did not find any proof that the three laptops used by team members in processing the transaction were compromised. This finding presents one of the major turns an ongoing investigation takes and only confirms further that WazirX is right—the problem did not emerge from their systems.
WazirX has consistently maintained transparency throughout the investigation. The exchange has been in constant communication with law enforcement and other investigative bodies, sharing Mandiant’s findings to assist in the recovery of the stolen assets. The clean chit from Mandiant is a testament to the exchange’s commitment to securing its platform and protecting its users’ assets.
WazirX CEO Questions Liminal’s Role
Nischal Shetty, CEO of WazirX, took to X to express his thoughts on the situation. Shetty pointed out that Liminal, the digital asset custody and wallet provider, was quick to blame the exchange laptops without sufficient proof.
In response, WazirX enlisted Mandiant to conduct a thorough investigation, which ultimately cleared the exchange of any wrongdoing. Shetty’s tweet raised several pertinent questions directed at Liminal, highlighting potential oversights and discrepancies in their security protocols.
Among the questions he raised were how exactly Liminal’s systems had allowed the breach to happen and why a blocked transaction had been able to pass through. He asked about the integrity of its firewall and whether an insider was behind it. These questions demonstrate that a closer investigation into Liminal’s involvement with the cyberattack is needed.
This development puts the focus once again on Liminal as the exchange continues to cooperate fully with the investigating agencies in this matter and works on the recovery of the funds. The incident brought home, once again, why robust security measures are needed in the cryptocurrency space.
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