In response to the recent hack on WazirX’s systems on July 18, leading global auditor Grant Thornton conducted a comprehensive review of Liminal’s infrastructure to ensure security. The hack prompted Liminal to launch its own internal investigation and engage independent auditors to assess potential vulnerabilities within its platform.
Grant Thornton’s audit found no evidence of compromise in Liminal’s frontend, backend, or user interface, reaffirming the platform’s security. Liminal’s self-custody wallet services, where private keys are retained by clients, were cleared of any vulnerabilities related to the breach. The third-party audit provided further assurance that Liminal’s systems remained secure during the incident, which resulted in losses of over $235 million.
Following the hack, Liminal conducted a thorough examination of data payloads to identify any discrepancies between its system and WazirX. Liminal stated that its self-custody wallet infrastructure, designed to ensure private keys and transaction initiations are client-controlled, was not susceptible to the type of attack that targeted WazirX. The company believes the breach likely occurred within WazirX’s infrastructure, based on its findings and the discrepancies in data payloads from both parties.
Liminal reiterated its dedication to security and transparency, promising to continue investigating the incident and updating clients and users as more information becomes available. The company emphasized that security remains a top priority and that it is enhancing its security measures in response to the hack. Additionally, Liminal pointed out that all transactions in its self-custody wallets are initiated by clients, reducing the risk of internal breaches.
The recent security audit conducted by Grant Thornton on Liminal’s platform highlights the importance of rigorous security measures for cryptocurrency exchanges. By proactively assessing and addressing potential vulnerabilities, platforms can enhance security, safeguard client assets, and maintain trust with users. Ongoing vigilance, transparency, and collaboration with independent auditors are essential components of a robust security framework in the ever-evolving landscape of cryptocurrency trading platforms.
