Liminal Responds to WazirX's Accusations After Security Breach

According to Liminal, 75 days after the hack, WazirX still had more than $175 million in its custody despite blaming the custodian for causing the breach. Amid the ongoing debt restructuring of the hacked Indian cryptocurrency exchange WazirX, its digital custody partner Liminal issued a statement addressing the alleged security breach. Liminal clarified some information about its role in the matter and claimed that WazirX continues using its digital custody services, keeping millions of its assets on Liminal. Liminal emphasized that it cannot initiate transactions involving WazirX’s funds, stating that only the WazirX team has the ability to execute such transactions. Liminal also mentioned WazirX’s move to disclose information on 240,000 wallet addresses in Singapore. According to Liminal, data disclosure has been widely criticized as a potential disinformation campaign designed to confuse both users and legal authorities. CoinSwitch co-founder Ashish Singhal accused WazirX of transferring more than $70 million in users’ crypto to global exchanges Bybit and KuCoin following the alleged security breach in July.