As a seasoned cybersecurity analyst with extensive experience in cryptocurrency exchanges and digital asset security, I find the ongoing blame game between WazirX and Liminal Custody over the $230m hack to be disconcerting. My concern deepens as I read through the latest developments in this incident, which have raised questions about the safety and security of investments on these platforms.
WazirX and Liminal Custody are currently involved in a heated dispute following the $230 million hack on Indian exchange WazirX, each party casting blame on the other for the security breach. This incident affected three WazirX wallets, leaving customers apprehensive about the security of their investments.
Liminal Claims No Responsibility in WazirX Hack
WazirX acknowledged an discrepancy between the data shown on Liminal’s interface and the true transaction details in a social media post. They reported this incident to the authorities, including the police and CERT-In.
Nischal Shetty, CEO of WazirX, mentioned that the issue involved a multisignature wallet which utilized Liminal’s custodial services.
As a crypto investor, I’ve come across conflicting reports regarding the recent hack on Liminal Custody’s platform. However, Liminal has released an official statement clarifying that their infrastructure itself was not compromised. In the statement, it was disclosed that a wallet connected to their system at WazirX’s request became subject to the attack. This wallet was configured as a 4 out of 6 multisig wallet, with WazirX holding three keys and Liminal holding one.
Through their investigation, Liminal discovered that the intrusion took place on WazirX’s devices, specifically where attackers introduced payloads to obtain the necessary signatures for carrying out unauthorized transactions.
North Korean Hackers Suspected
Based on information from cryptocurrency security firm Elliptic, it is believed that the individuals responsible for the cyberattack can be traced back to North Korea. Previously, this same group of hackers has been implicated in other high-profile crypto heists. To execute their malicious activities, they successfully infiltrated the devices of WazirX users and acquired the necessary transaction signatures.
As a crypto investor, I’ve come across Liminal’s report detailing the methods used by attackers to obtain signatures for their malicious activities. They explained that the signatures were acquired through the manipulation of several compromised devices.
The attackers used man-in-the-middle (MIM) techniques and client-side hacks to interfere with the signing process and obtain the necessary approvals for moving funds into their own accounts.
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2024-07-19 19:01