WazirX Loses Over $230M in Multisig Wallet Hack

In one of the most significant cyberattacks of the year, WazirX, an Indian cryptocurrency exchange, lost over $230 million from a multisig wallet.

Indian cryptocurrency exchange WazirX reported a multisig wallet breach, leading to a loss of over $230 million in a sophisticated cyberattack.

The stolen funds were siphoned off from a multisig wallet, which had six signatories, including one from Liminal and five from WazirX.

The wallet was designed to require multiple approvals for any transaction, ensuring enhanced security.

However, the attackers managed to manipulate the transaction contents, replacing the payload and gaining control of the multisig wallet.

Despite the use of advanced security measures, such as the Gnosis Safe multisig smart contract platform and a whitelisting policy, the attackers were able to exploit these defenses.

Liminal's Custody team confirmed in a statement to Cointelegraph that Liminal’s platform was not breached, and its assets, wallets, and infrastructure remained secure.

The incident highlights the evolving tactics employed by cybercriminals to target cryptocurrency exchanges and the need for robust security measures to safeguard digital assets.

In related news, the WazirX hacker reportedly converted a substantial portion of the stolen SHIB, MATIC and other altcoins into ETH before transferring them to new wallets.

According to on-chain data, over 149 million SHIB tokens were swapped for ETH, along with smaller amounts of MATIC, TRX, HBAR, CHZ, GALA, SAND, and QUICK tokens, all totaling around $149 million.

The remaining霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽霽