WazirX Cuts Ties with Liminal After $230M Hack, Cites Custodian Security Concerns
CryptoNewsTerminal Staff14 Aug, 2024
WazirX Cuts Ties with Liminal After $230M Hack, Cites Custodian Security Concerns
Indian cryptocurrency exchange WazirX, which fell victim to a $230 million hack last month, has severed its ties with digital asset custodian Liminal. The announcement was made via WazirX's official Twitter handle on Monday. The termination follows a series of accusations between WazirX and Liminal over who was responsible for the hack. WazirX has stated that it believes its own systems are secure but has concerns about Liminal's security measures following the July 18th incident. "While we believe our own interface and systems security is intact, we cannot be sure about the security of our custodian's interface after the July 18th hack and hence this action," WazirX said. Last week, WazirX announced that it would be restoring user wallet balances to the levels they were at on July 18th, at 1 pm (IST). The exchange is currently in the process of moving its remaining assets held with Liminal to a new multi-sig wallet.
