WazirX Hack Explained: What Happened & What’s Next

WazirX, a leading digital asset trading platform in India, is facing a petition with the National Company Law Tribunal (NCLT) in the wake of $230 million crypto asset theft that shook the very foundations of the Indian crypto community.

Notably, the hack took place on July 18 and was a result of the exchange’s Safe Multisig wallet on Ethereum being compromised by the attackers. This resulted in several fingers being raised at the exchange’s security measures and the safety of users’ funds. 

The hack occurred on July 18th as a result of the exchange’s Safe Multisig wallet on Ethereum being compromised by the attackers. The incident not only cast a shadow over WazirX’s platform integrity but has also fueled concerns over the security protocols in place for the safety of users’ funds.

WazirX Under Siege

According to sources familiar with the matter, WazirX, its infrastructure partner Liminal, and other associated entities are facing scrutiny following an August 5th petition filed in Indore, India. The petition invokes Section 213(b) and Section 221 of the Companies Act, 2013, potentially triggering an investigation into the company’s internal affairs due…

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