What happened in WazirX?

The incident highlights the importance of robust security measures in the cryptocurrency space. Despite the involvement of a trusted custody provider, the multi-signature wallet was still vulnerable to exploitation.

WazirX is not alone in facing such challenges. The cryptocurrency industry has seen numerous high-profile hacks and thefts in recent years, emphasizing the need for continuous improvement in security protocols.

WazirX, a prominent cryptocurrency exchange, suffered a significant setback on July 18th. The incident involved a multi-signature wallet under its management, which was entrusted to Liminal, a reputable digital asset custody company.

In response to the attack, WazirX has likely initiated an investigation to determine the exact cause and identify potential vulnerabilities in its systems. The exchange will also need to work closely with law enforcement agencies to track down the perpetrators and recover the stolen assets.

Unfortunately, this wallet was compromised, resulting in a devastating outcome for WazirX and its users. The attack resulted in the theft of over $230 million in assets, marking a significant blow to the exchange's reputation and finances.