As a seasoned crypto investor with over a decade of experience navigating the volatile and often mysterious world of digital currencies, I’ve witnessed more than my fair share of ups and downs, hacks, and scams. The recent WazirX hack case has certainly piqued my interest, given its sizeable scale and the ongoing investigations by Delhi Police.
Approximately four months following the massive $2000 million (Rs 2000 crore) cyber-heist at WazirX, authorities in Delhi have submitted a charge sheet to the Delhi High Court after a preliminary investigation, leading to the apprehension of an individual from West Bengal.
The IFSO unit of the Delhi Police, currently handling the investigation, has stated that Liminal Custody, previously associated with WazirX, has not yet been questioned regarding this case. Additionally, police have indicated they plan to submit an additional chargesheet in the case, once they’ve interviewed Liminal Custody.
Following the unauthorized access to WazirX’s multi-sig cold wallet on July 18, there has been a disagreement between the exchange administration and their security partner, Liminal Custody. It was Liminal who was contracted by WazirX to secure some of their cold wallets, and unfortunately, the breach took place in one of these wallets, leading to the theft of approximately 45% of user deposits.
In response to a petition lodged by a user of WazirX, the Delhi High Court ordered the Delhi Police to submit a report on their progress in investigating a hack by the end of the next month, on October 18th. On Saturday, the IFSO cell presented its chargesheet at the Patiala House Court in Delhi.
Based on court documents submitted at Patiala House Court, SK Masud Alam is accused of crafting a fraudulent account under the name Souvik Mondal, which was subsequently purchased by M Hasan for the purpose of carrying out a breach. The authorities claim that the hackers aimed to infiltrate WazirX’s hot wallet and reach its cold wallet, considered the final security barrier due to its offline storage.
According to the police’s charge sheet, they assert that Liminal reportedly failed to disclose crucial details even after several reminders, and neglected to supply log records related to the day the hack took place (July 18).
Notably, WazirX has received recognition for its collaborative efforts; as per Delhi Police, they supplied transaction records, identity verification data, and system access, which significantly aided the police in determining that there was no unauthorized server access involved.
The police have stated they plan to file an additional chargesheet following the interrogation of Liminal Custody and thorough examination of all devices relevant to the ongoing operations, using forensic analysis.
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2024-11-18 09:40