How Did WazirX Lose $230 Million In A Significant Cyberattack?

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In one of the most significant cyberattacks of the year, WazirX lost over $230 million from a multisig wallet. The attack was on one of its multisig wallets, which has used Liminal’s digital asset custody and wallet infrastructure since February 2023. The wallet breach occurred due to discrepancies between the data displayed on Liminal’s interface and the actual transaction contents. During the attack, the payload was replaced, allowing the hacker to gain control of the multisig wallet and steal funds held within it. Despite the use of security measures such as the Gnosis Safe multisig smart contract platform and a whitelisting policy, the attack was able to exploit these defenses. Liminal’s platform was not breached and its assets, wallets, and infrastructure remain safe.