North Korean Group Suspected of Hacking WazirX Crypto Exchange

WazirX was impacted in a data breach on Thursday, as the company lost funds worth $230 million (roughly Rs. 1,924 crore) to hackers. Over the past 24 hours, analysts and crypto industry executives have identified reasons to believe that this sophisticated breach could have been initiated by North Korean hackers, possibly linked to the infamous Lazarus Group. In a conversation with Gadgets360, Polygon's chief information security officer, Mudit Gupta, said that there was "80 percent" certainty of the involvement of North Korean hackers in the WazirX data breach.

WazirX has confirmed that the hack led to the loss of funds exceeding $230 million (roughly Rs. 1,924 crore). The exchange partnered with Liminal Custody Solutions in February 2023 for assistance in secure crypto storage. In this hack, the hackers managed to get access to two signatures from WazirX and one from Liminal to hack this multi-signature wallet where the stolen funds were being held.

Meanwhile, executives from the crypto industry have offered insights into the WazirX incident, even commenting on the security of the crypto exchange.