Published on July 19, 2024. EST READ TIME: 2 minutes
India's leading cryptocurrency exchange, WazirX, has suffered a significant cyber-attack, resulting in the loss of $234 million worth of digital assets. The breach targeted a multi-signature wallet operated with Liminal's digital asset custody services. In response, WazirX has paused all withdrawals and is conducting a thorough investigation to understand the extent of the breach and prevent future incidents. This attack underscores the vulnerabilities in cryptocurrency platforms and the urgent need for enhanced security measures to protect digital assets. The incident has caused considerable concern among users and highlights the broader risks associated with digital currencies. As the investigation progresses, WazirX aims to reassure its users and strengthen its security infrastructure to prevent similar breaches in the future.