Alleged Insider Involvement in WazirX Hack Raises Concerns

The cryptocurrency community is abuzz with allegations of insider involvement in the recent WazirX hack, which resulted in a loss of over $230 million. The claims are spearheaded by an X account named “Justice for WazirX Users,” which has highlighted suspicious activities preceding the hack.

According to the account, the hacker used a fake KYC application to open a WazirX account. This account was then used to deposit cryptocurrency, which was traded for GALA tokens. On the day of the hack, the hacker injected malicious code into the WazirX platform, causing a system bug. As the WazirX team attempted to fix the bug, the hacker successfully swiped their credentials and executed the heist.

Crystal Intelligence analyzed the incident and revealed that the laptops of key personnel used to sign the transaction were not compromised. A separate audit by WazirX’s security partner, Liminal, also found no evidence of a custodial breach, reports Nairametrix.com.

Both parties’ confirmation that the laptops of the key signatories were not compromised has led to increased confusion and growing speculation of insider involvement.

WazirX is a cryptocurrency exchange platform based in India. It was founded in 2018 and allows users to buy, sell, and trade various cryptocurrencies, including Bitcoin, Ethereum, and many others.

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