WazirX: Breach leads to theft of $230 million worth of crypto.

Indian crypto exchange, WazirX, has admitted that it fell victim to a cyberattack, which led to the theft of $230 million worth of crypto assets.

“ A cyberattack occurred on one of our [multi-signature] wallets resulting in the loss of over $230 million in funds ,” the company said in a statement. This wallet was operated using the services of digital asset custodian Liminal .

WazirX said the attack stemmed from a mismatch between the information displayed on Liminal’s interface and the signed information. The attackers were able to replace the payload and control of the wallet was transferred to an attacker.

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Crypto custodian company, Liminal, is one of the six signatories on the wallet and is responsible for transaction verifications.

“Our preliminary investigations indicate that one of the self custody multi-sig smart contract wallets created outside the Liminal ecosystem has been compromised,” Liminal told X. “It is also pertinent to note that all WazirX wallets created on the platform continue to remain safe and secure. Meanwhile, all malicious transactions to the attacker’s addresses have taken place outside the Liminal platform.”

Blockchain analytics firm Ellipticsaid the attack had all the hallmarks of attacks by North Korean hackers, noting that the attackers attempted to exchange self-custody multi-sig smart contract wallets for Ether using various decentralized services.

The same view is held by researcher ZachXBT, who told X that the attack on WazirX resembles an attack by the North Korean Lazarus.

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The North Korean crypto theft has significant implications for the global economy. First, the theft creates uncertainty and loss of confidence in the cryptocurrency market. Investors and users are concerned about the safety of their funds and the possibility of becoming victims of cyberattacks.

Additionally, the theft of crypto by North Korean hackers could have a negative impact on the development and security of cryptocurrencies in general. cyberattacks expose weaknesses in security systems and can cause market turmoil. The loss of public trust can negatively affect the value of cryptocurrencies.

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Finally, these attacks could have geopolitical implications. North Korea is using stolen cryptocurrencies to fund its nuclear weapons and missile programs. This could threaten regional security and provoke reactions from other countries.

Source: thehackernews.com