WazirX terminates custody relationship with Liminal, funds migrated to new multi-signature wallet

TechFlow news, August 14, according to Coindesk, the Indian cryptocurrency exchange WazirX announced the termination of its partnership with the custodial service provider Liminal, and is transferring funds to a new multi-signature wallet. This move stems from a security breach last month that resulted in the disappearance of 45% of customer funds, valued at $230 million. WazirX and Liminal have blamed each other for the attack, raising concerns among users about the security of their funds.

WazirX stated that to ensure maximum security of assets, it is transferring the remaining assets from Liminal to a new wallet. Although the WazirX system was not damaged, trust in the custodian has been affected. Liminal stated that customers have always had full control over the wallet and are cooperating with the migration process. Co-founder Nischal Shetty has asked customers for time to resolve the issue and has promised to publish a list of new wallets after the migration is complete to ensure transparency.