WazirX Ends Custody Relationship With Liminal, Is Moving Funds to New Multisig Wallets
Indian cryptocurrency exchange WazirX, which suffered a $230 million exploit in July, is ending its relationship with custody provider Liminal.
Binary trading platforms with better performance and payouts
hack
Indian cryptocurrency exchange WazirX, which suffered a $230 million exploit in July, is ending its relationship with custody provider Liminal.
A wallet linked to the $200 million hack of the Nomad bridge in 2022 transferred 14,500 ETH to sanctioned coin-mixing service Tornado Cash, according to blockchain security firm PeckShield.
Nexera, a blockchain infrastructure protocol that focuses on tokenization, has suffered an exploit with $1.5 million being stolen, according to blockchain security firm Cyvers.
Indian crypto exchange CoinDCX’s co-founder Sumit Gupta has told CoinDesk that his company has established an investor protection fund, saying that if other exchanges did this too “it would be better for the eco system.”
Indian cryptocurrency exchange WazirX’s co-founder Nischal Shetty told CoinDesk that outreach efforts to different exchanges “are going to be crucial,” as it remains open to “everything that is possible to help solve this situation.”
Indian cryptocurrency exchange WazirX is facing industry and customer heat for its “Withdrawal Management Programme: Opinion Poll” in the aftermath of the $230 million hack, 45% of its user funds, it suffered earlier this month.
The dispute centers around multisig wallets.
Indian crypto exchange WazirX has filed a police complaint, it said on X, and it has also reported the incident to the Indian Computer Emergency Response Team (CERT-In).
The exchange blamed a data discrepancy with a custodial platform for having caused the transfer of assets. But popular members of the Indian crypto community aren’t buying that narrative.
The website leads to a phishing page that could drain user funds, but the actual protocol remains unaffected.