In the wake of the recent hack on WazirX, leading global auditor Grant Thornton conducted a thorough review of Liminal’s infrastructure to confirm its security. The audit encompassed an examination of all aspects of Liminal’s platform, including the frontend, backend, and user interface (UI). The results of the audit provided assurance that Liminal’s systems were not compromised during the incident, which resulted in significant losses for WazirX.
One key feature of Liminal’s platform is its self-custody wallet services, where private keys are retained by clients. This design is intended to enhance security by limiting access to sensitive information. The audit confirmed that this aspect of Liminal’s infrastructure was not vulnerable to the type of attack that occurred at WazirX, further emphasizing the importance of secure storage solutions in the financial sector.
Throughout the audit process, Liminal remained dedicated to transparency and security. The firm undertook its own internal investigation to identify any potential vulnerabilities and discrepancies in data payloads. By engaging independent auditors like Grant Thornton, Liminal demonstrated its commitment to ensuring the integrity of its systems and providing clients with peace of mind.
While Liminal’s systems were cleared in the audit, the company has taken proactive steps to reinforce its security measures. By prioritizing the security of its self-custody wallets and emphasizing client-initiated transactions, Liminal is minimizing the risk of internal breaches. This commitment to continuous improvement and vigilance is essential in the ever-evolving landscape of cybersecurity.
The recent security audit conducted by Grant Thornton underscored the importance of rigorous security measures in the financial industry. By prioritizing transparency, investing in independent audits, and proactively addressing vulnerabilities, companies like Liminal can safeguard their systems and protect client assets. As threats in cyberspace continue to evolve, firms must remain vigilant and committed to staying ahead of potential risks.