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Showing posts from July 19, 2024

WazirX hack | How did WazirX get hacked?| WazirX and Liminal Custody

The hack on WazirX, a prominent Indian cryptocurrency exchange, resulted in the theft of over $230 million . The attack was executed through a breach in one of the exchange’s multisignature wallets, and the hackers exploited vulnerabilities in smart contracts associated with the platform​. Investigations suggest that the attack involved sophisticated tactics, including the use of Tornado Cash, a service that obfuscates the origin of cryptocurrency transactions, making the stolen funds difficult to trace. The hackers utilized multiple small withdrawals and a complex network of transactions to launder the stolen assets​ ​. Further analysis by independent investigators like ZachXBT indicated potential links to the Lazarus Group, a well-known cybercrime organization with a history of targeting financial institutions and crypto exchanges​. In response, WazirX has taken steps to collaborate with various exchanges and authorities to recover the stolen funds and has temporarily paused wit...