Analysis of WazirX and Liminal Custody’s Response to the $230 Million Hack
In response to accusations and counter-accusations between WazirX and Liminal Custody regarding the recent $230 million hack, both companies have issued statements that shed light on their perspectives. Let’s delve into the key points raised by each party.
Liminal Custody’s Perspective on the Audit Report
Liminal Custody has expressed concern over the adequacy of WazirX’s audit report, pointing out the lack of transparency in the scope and methodology of the audit conducted by WazirX. They have emphasized that only one of the six keys in the multi-signature wallet belongs to Liminal, making it crucial for a thorough investigation to be conducted by reputable auditors, including Mandiant.
Impact on Users and Trust
The ongoing dispute between WazirX and Liminal Custody has left thousands of users in a state of uncertainty regarding the recovery of their funds. Users who entrusted their investments to WazirX are now feeling abandoned due to the lack of clear communication and transparency from both parties. It is vital for both companies to address user concerns promptly and restore trust within the crypto community.
Furthermore, users are demanding the reopening of withdrawals that have been halted for over a month, adding to their frustration and anxiety. The delay in resolving the aftermath of the hack has heightened tensions and raised questions about the accountability of both WazirX and Liminal Custody.
The Path Forward: Transparency and Cooperation
To regain the trust of affected users, WazirX must prioritize transparency by releasing the full Mandiant audit report and methodology. Liminal Custody, on the other hand, should address user concerns promptly and publish their independent audit report to reassure users about the security measures in place.
Clear and open communication between WazirX and Liminal Custody is crucial in resolving the aftermath of the hack and restoring faith in the security of crypto exchanges. By working together and being transparent, both companies can rebuild trust and safeguard the interests of their users.
