WazirX

Documented events with consequences still open. Each entry carries a source and a date.

1. Jul 18, 2024 Hack / funds theft Critical $235M ● open

   ~USD 234.9 million stolen from the multi-signature wallet held with Liminal Custody, attributed to the Lazarus Group: withdrawals frozen ~15 months, 85% of approved claims repaid, the remaining ~15% sits in tokens conditional on future profits

   On 18 July 2024 WazirX lost roughly USD 234.9 million in digital assets (over ₹2,000 crore) from a multi-signature wallet held under a custody arrangement with Liminal Custody: the setup required three of five WazirX signatures plus one from Liminal, but during a signing operation the contract governing the wallet was replaced, after which the attacker could move the funds without needing the exchange's keys at all. Attribution to North Korea's Lazarus Group is not a company claim: it was confirmed by a joint statement from the United States, South Korea and Japan in January 2025. On who is responsible for the custody failure the two companies blame each other and neither account is established: WazirX pointed at Liminal, Liminal rejected this, relying on a review it commissioned from Grant Thornton and pointing back to vulnerabilities on WazirX's side, while the Delhi Police IFSO unit alleged that Liminal failed to hand over logs and technical data for the day of the breach. Withdrawals stayed frozen for about fifteen months. Repayment ran through a Singapore restructuring of Zettai Pte Ltd: the scheme of arrangement was approved by 95.7% of creditors by number and 94.6% by value, sanctioned by the Singapore High Court on 13 October 2025, and the platform reopened for trading on 24 October 2025. Within ten business days of the restart, eligible users received a first distribution of about 85% of their approved claims. The remaining ~15% has NOT been repaid: it is represented by 'Recovery Tokens' allocated to eligible users, which the company itself states are not tradable and are only eligible for future buyback 'subject to the availability of sufficient profits and recoveries', in three-month evaluation cycles triggered once at least USD 10 million in unencumbered value has been recovered. The case therefore remains open: a buyback promise conditional on future profits is not a refund.

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verified on Sep 21, 2026

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