[…] The Mumbai-based firm said one of its multisig wallets had suffered a security breach. A multisig wallet requires two or more private keys for authentication. WazirX said its wallet had six signatories, five of whom were with WazirX team. Liminal, which operates a wallet infrastructure firm, said in a statement to TechCrunch that its preliminary investigation had found that a wallet created outside its ecosystem had been compromised.
“The cyber attack stemmed from a discrepancy between the data displayed on Liminal’s interface and the transaction’s actual contents,” said WazirX in a statement on Thursday. “During the cyber attack, there was a mismatch between the information displayed on Liminal’s interface and what was actually signed. We suspect the payload was replaced to transfer wallet control to an attacker.”
Lookchain, a third-party blockchain explorer, reported that more than 200 cryptocurrencies, including 5.43 billion SHIB tokens, over 15,200 Ethereum tokens, 20.5 million Matic tokens, 640 billion Pepe tokens, 5.79 million USDT and 135 million Gala tokens were “stolen” from the platform.
Blockchain data suggests the attackers are trying to offload the assets using the decentralized exchange Uniswap. Risk-management platform Elliptic reported that the hackers have affiliation with North Korea.
About $230 million in missing assets is significant for WazirX, which reported holdings of about $500 million in its June proof-of-reserves disclosure.
[…]
This is the latest setback for WazirX, which separated from Binance in early 2023 after the two crypto exchanges had a public and high-profile fallout in 2022. Two years after Binance announced it had acquired WazirX, the two companies started a dispute over the ownership of the Indian firm. Binance founder Changpeng Zhao eventually said that the two firms hadn’t been able to conclude the deal and moved to terminate Binance’s businesses with the Indian firm.
Source: WazirX halts withdrawals after losing $230M worth crypto assets in security breach | TechCrunch
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