WazirX Crypto Exchange Suffers $230 Million Hack
The Indian cryptocurrency exchange WazirX has fallen victim to a hack resulting in the theft of crypto assets worth $230 million. The Mumbai-based company reported that one of its multi-signature wallets was attacked. Such wallets require two or more private keys for authentication.
According to WazirX representatives, the wallet had six signatures, five of which belonged to the WazirX team. However, since 2023, “this wallet has used the digital asset custody and wallet infrastructure services of Liminal.”
“The cyberattack occurred due to a mismatch between the data displayed in the Liminal interface and the actual transaction content,” WazirX’s official statement reads. “During the cyberattack, there was a discrepancy between the information shown on the Liminal interface and what was actually signed. We believe the payload was altered to transfer control of the wallet to the attacker.”
Meanwhile, Liminal has already stated that a preliminary investigation found the compromised wallet was created outside its ecosystem.
“It is important to note that all WazirX wallets created on the Liminal platform remain safe and secure. All malicious transactions to the attacker’s addresses occurred outside the Liminal platform,” Liminal representatives said.
Details of the Stolen Assets
According to blockchain analyst Lookonchain, the stolen assets from WazirX include:
- 5.43 billion SHIB tokens
- Over 15,200 Ethereum tokens
- 20.5 million Matic tokens
- 640 billion Pepe tokens
- 5.79 million USDT
- 135 million Gala tokens
- And more
The analyst notes that the attackers are attempting to convert these assets on the decentralized exchange Uniswap.
Possible North Korean Connection
Cybersecurity experts from Elliptic suggest that the hackers behind the attack may be linked to North Korea.
Second Largest Crypto Heist of 2024
Currently, the WazirX hack is the second largest crypto theft of the year. The top spot is held by the attack on the Japanese crypto exchange DMM Bitcoin, which resulted in the theft of over $300 million in cryptocurrency.