On July 18, 2024, WazirX suffered a breach where $234 Mn in crypto was stolen from a wallet hosted by Liminal. The heist remains India's largest crypto theft.
WazirX launched a white hat bounty programme offering up to $23 Mn for the recovery of stolen assets. The company also froze trading and withdrawals.
Ownership disputes between WazirX, Binance, and Zettai Pte Ltd cloud the situation, leaving potential buyers wary amidst ongoing investigations.
WazirX and Liminal Custody blame each other for the security breach. Both conducted separate forensic audits, neither fully released to the public.
As over 4.3 Mn users were affected, WazirX’s future looks uncertain. Founders have already moved on to new ventures, casting doubt on recovery efforts.