A recent cyberattack on one of India's largest digital currency exchanges, WazirX, led to the theft of $230 million. An investigation confirmed that the exchange itself was not breached.
Cyberattack Incident
WazirX was severely compromised in a cyberattack, resulting in a nearly 45% reduction in the exchange's assets. The hack was linked to the company's multi-signature wallet. An initial report by Mandiant indicated that vulnerabilities stemmed from WazirX's former infrastructure and custody partner, Liminal.
Role of Mandiant in Investigation
Mandiant, a cybersecurity firm and Google subsidiary, confirmed that laptops used by WazirX team members were not compromised. Furthermore, no tampering was found in the three laptops used for signing transactions, leading WazirX to point fingers at Liminal.
Liminal’s Response
Liminal firmly refuted the allegations, asserting the sturdiness of their network architecture and lack of weaknesses in their platform. They have conducted their own forensic analysis, the results of which are pending.
Although the investigation cleared WazirX, the exchange continues efforts to recover the stolen funds and minimize losses.
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