WazirX, an Indian cryptocurrency exchange, has already transferred USD 175 million crypto into 2,40,000 wallets, many of which are reported to be from a Chinese wallet provider that is not registered with the FIU (Financial Intelligence Unit) in India. Experts have questioned the safety of investments made with the aforementioned Chinese wallets. Coinswitch CEO Ashish Singhal and Liminal Custody both asked questions about this. WazirX had a cyber attack in July, resulting in the loss of $230 million in cryptocurrency holdings. WazirX also filed a police report about the attack with the Delhi Police IFSO Branch.
Liminal Custody has published an official statement that clarifies the circumstances and their role. The corporation clarified its role in the WazirX controversy, which involved the submission of 2,40,000 wallet addresses to a Singapore court. Despite publicly stating that they had terminated their relationship with Liminal following the hack, WazirX continued to use Liminal’s services for several months. Liminal also accused WazirX of being less transparent than another company, Radiant Capital, in dealing with a similar problem.
Read the full statement by Liminal below:
As the Web3 community deals with the affected exchange’s submission of 2,40,000 wallet addresses to the Singapore court, there is some uncertainty over Liminal’s position in the case. The exchange’s extensive submittal, covering 1,100 odd pages,
While this massive data exposure has been widely condemned as a possible disinformation attempt aimed at confusing both users and legal authorities, we have also been approached to clarify facts and our position in this case. Given the sensitivity of the situation and our dedication to transparency, we believe it is critical to confront these misconceptions head on and give confirmed, true facts regarding our role.”
We advise the community to carefully consider the information offered by all parties involved and to rely on verified sources. Our goal is to protect the Web3 ecosystem’s integrity while also providing users with accurate and reliable information.