The July exploit, which led to the colossal loss, has ignited a blame game between WazirX and Liminal, with each party pointing fingers at the other, leaving users caught in a maelstrom of uncertainty regarding the security of their remaining assets.

WazirX, in its recent communication, assured stakeholders that the process of transferring the residual assets from Liminal to newly established multisignature wallets is underway. “This migration is pivotal to fortify the protection of our users’ assets in response to the recent breach. Although our platform’s interface and underlying systems have not been compromised, the integrity of the custodian’s interface has been called into question following the incident on July 18th, necessitating this precautionary measure,” the exchange emphasized.

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Liminal, on its part, has expressed its cooperation with the migration process. “The client had the option to withdraw the assets immediately following the breach,” a representative from Liminal conveyed through a WhatsApp statement. “The client has always retained full control over their wallets, independent of Liminal or the Liminal key. We have supported, and will continue to support, the client in the transition of their wallets and assets as per their directives.”

Despite these assurances, WazirX has been under fire from its user base, who have expressed frustration over the difficulties in withdrawing their funds and the perceived opacity in the exchange’s communication. In response, Nischal Shetty, Co-founder of WazirX, has appealed for patience from the users, promising that the exchange is taking meticulous steps to resolve the situation.

“We are exercising the utmost caution in the migration of these assets, given the complexities involved,” the statement on X elaborated, underscoring the need for vigilance to avert any further breaches during the transfer process. “For the sake of transparency, we will disclose the details of all newly established wallets once the migration is finalized.”

By focusing on heightened security measures and maintaining transparency with its users, WazirX aims to restore trust in the wake of this unsettling incident.