Nischal Shetty, founder of India’s leading crypto exchange WazirX, has been unable to eat or sleep following a massive ₹1,965 crore hack linked to North Korean hackers. Shetty expressed his distress and commitment to making things right in a recent X post.
“This has been an incredibly tough time for us. I haven’t been able to sleep or eat since the incident,” Shetty shared on X.
He assured customers that efforts are underway to compensate them and recover the stolen funds, including filing a police report and notifying intelligence officials.
“What matters most is our customers. We are diligently working on solutions and will provide regular updates as we address this crisis,” Shetty added.
The hack, which resulted in a $230 million loss, involved both WazirX and Liminal Custody. WazirX has pointed to discrepancies in Liminal’s interface and has filed a police report. Both companies are blaming each other for the breach, leaving users concerned about their assets’ security.
Security firm Elliptic has indicated that North Korean hackers may be responsible for the attack.
WazirX vs. Liminal:
WazirX claims the hack exploited a multi-sig wallet connected to Liminal’s digital asset custody service, citing a mismatch between the data on Liminal’s interface and the transaction details.
Conversely, Liminal maintains that its infrastructure was not compromised and all wallets, including those used by WazirX, remain secure.
A multi-sig wallet requires multiple signatures to authorize a transaction, adding a layer of security.