The Importance of Security Measures in the Era of Digital Hackings

In response to the hacking incident at WazirX on July 18, leading global auditor Grant Thornton conducted a comprehensive review of Liminal’s infrastructure to ensure its security. The confirmation from Grant Thornton came after Liminal launched an internal investigation and engaged independent auditors to assess any potential vulnerabilities within their platform. It was reaffirmed that Liminal’s systems were not compromised in the hack.

The audit conducted by Grant Thornton found no evidence of compromise in Liminal’s frontend, backend, or user interface (UI). This is a significant assurance for Liminal, considering the platform offers self-custody wallet services where private keys remain with clients. The audit stated that there were no vulnerabilities related to the breach in Liminal’s platform.

Liminal’s internal investigation, initiated immediately after the hack, involved a detailed examination of discrepancies in data payloads between its system and WazirX. The findings of the investigation concluded that Liminal’s self-custody wallet infrastructure, designed to prioritize client security by keeping private keys and transaction initiations with the client, was not vulnerable to the type of attack that occurred at WazirX.

Liminal reiterated its commitment to security and transparency, promising to continue its investigation and provide updates to clients and users as more information becomes available. The company stated that its focus on security measures is unwavering and that it is further strengthening its security measures in the wake of this incident.

While Liminal’s systems were cleared in the audit, the company is taking precautionary steps to reinforce its security measures. All transactions in its self-custody wallets are initiated by clients, which further reduces the risk of internal breaches. This proactive approach highlights the importance of continuously updating security protocols to counter potential threats in the digital landscape.

The recent audit conducted by Grant Thornton and Liminal’s commitment to security and transparency underscore the crucial role of robust security measures in safeguarding platforms from cyber threats. As digital vulnerabilities continue to pose risks, organizations must prioritize security measures to protect user data and uphold trust within the digital ecosystem.