30s Summary

In the case of the $235 million hack on crypto exchange WazirX, Delhi Police have arrested a suspect from Bengal. The hack was not due to software glitches; a fake account sold on Telegram was used instead. WazirX has been cooperative with authorities and their internal systems have been verified as secure. The chargesheet indicates that WazirX’s platform wasn’t breached internally, but through dodgy third-party services. WazirX have accused digital custody partner, Liminal, of being culpable. Liminal has refuted these accusations, considering them as a disinformation campaign. Meanwhile, WazirX is moving remaining assets to new multi-signature wallets.

Full Article

Some progress has been made in the case of the $235 million hack on the crypto exchange, WazirX. Delhi Police have managed to nab a guy from Bengal who they think might be involved. As per the police, the hack wasn’t due to any glitches in the platform’s software. Instead, someone used a fake account sold on Telegram to pull it off.

During the whole investigative process, WazirX was really helpful, providing all the necessary customer records, transaction logs, and even hardware to assist in the investigation. Moreover, the Indian Cyber Crime Coordination Centre (IFSO) gave a thumbs up to WazirX’s security, confirming that their internal systems were not compromised.

Now, talking about what the police chargesheet said, it clarified that WazirX’s platform wasn’t breached from the inside. The hackers got in through sketchy means and managed to drain their multisignature wallet of $235 million worth of crypto tokens. In the chargesheet, they mentioned the suspect as part of a well-organized hacking group. Apparently, someone offered him a decent chunk of change for Wazir X crypto accounts via Telegram.

Another review, this one by the IFSO, agreed with WazirX’s claim that their systems weren’t compromised. However, the investigation ran into roadblocks as they had issues dealing with third-party services controlling WazirX’s digital assets. That ended up slowing down the data collection process.

Interestingly, WazirX has been pointing fingers at Liminal, their digital custody partner, for this entire mess. On October 22, Liminal responded, calling out WazirX for a disinformation campaign. They’re ticked off that WazirX is spreading misleading information and blaming them for the breach. Despite all the drama, a rep from WazirX said they’re in the process of moving the remaining assets held on Liminal to new multi-signature wallets.