Security News > 2024 > July > WazirX Cryptocurrency Exchange Loses $230 Million in Major Security Breach

"A cyber attack occurred in one of our wallets involving a loss of funds exceeding $230 million," the company said in a statement.

The Mumbai-based company said the attack stemmed from a mismatch between the information that was displayed on Liminal's interface and what was actually signed.

Crypto custody firm Liminal is one of the six signatories on the wallet and is responsible for transaction verifications.

"Our preliminary investigations show that one of the self custody multi-sig smart contract wallets created outside of the Liminal ecosystem has been compromised," Liminal said in a series of posts shared on X. "It is also pertinent to note that all WazirX wallets created on the Liminal platform continue to remain secure and protected. Meanwhile, all the malicious transactions to the attacker's addresses have occurred from outside of the Liminal platform."

Blockchain analytics firm Elliptic said the attack has all the hallmarks of North Korean threat actors, and the attackers have taken the step of swapping the crypto assets for Ether using various decentralized services.

Threat actors affiliated with North Korea have a track record of staging cyber attacks targeting the cryptocurrency sector since at least 2017 as a way to get around international sanctions imposed against the country.

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