Akshata Sharma
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After experiencing a ₹1,965 crore loss in a hacking incident, Nischal Shetty, the founder of WaxirX, India's largest cryptocurrency exchange, revealed today that he has been unable to sleep or eat since the incident.
"This is a difficult time for everyone. I've been unable to sleep or eat since the incident," Shetty wrote on X.
Shetty guarantees that he intends to compensate customers and vows to track back the lost money by filing a police complaint and alerting the intelligence officers.
"But that does not matter. What matters is our customers and we understand that. We're tirelessly working on next steps. We need more time to figure a solution to the problem of stolen assets. We'll keep you updated on a regular basis as we navigate this difficult time. Stay strong " Shetty added in his X post.
Yesterday, there was a hack involving WazirX and Liminal Custody, resulting in a $230 million loss. WazirX cited a discrepancy in Liminal's interface and filed a police report.
The firms are blaming each other for the attack, leaving users unsure about the security of their funds. Security firm Elliptic suggested North Korean hackers are behind the hack.
WazirX claimed that the exploit was related to a multisig wallet using Liminal's digital asset custody service. They stated that the attack was due to a discrepancy between the data displayed on Liminal's interface and the transaction's actual contents.
On the other hand, Liminal stated that its infrastructure had not been breached and that all wallets, including WazirX's, remain safe. It's worth noting that a multisig wallet requires several people to sign a transaction before it can be executed.
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