WazirX appoints Zodia Custody as custodian as it gears up to restart operations
The move comes after WazirX and its former custodian Liminal crossed swords in the aftermath of a cyberattack which saw assets worth $234.9 million being stolen from the exchange.
Crypto exchange WazirX has appointed Zodia Custody as custodian as it hopes to restart its operations soon, pending its creditors voting on the recovery scheme.
Zodia Custody is a digital assets platform that is backed by Standard Chartered in association with Northern Trust, SBI Holdings, National Australia Bank, and Emirates NBD.
“As WazirX gears up to revive its momentum, the need for trusted partners who share our commitment to an agile and secure asset management system, combined with dependable insurance coverage, becomes urgent. We want to ensure we partner with the very best of the industry’s custody providing solutions to build trust and confidence,” said WazirX Co-founder Nischal Shetty.
The announcement comes after WazirX and its previous third-party custodian, Liminal Custody, crossed swords after a cyberattack that stole assets worth about $234.9 million.
In November, YourStory had reported that according to a chargesheet filed on the initial findings from the investigation launched into the cyberattack, authorities had sent two notices to Liminal seeking information but the firm did not adequate information.
However, in a statement sent to YourStory, Liminal said, “We would like to clarify that Liminal has not only submitted their reply to the authorities but has also officially met with IFSO officials to help them with our best efforts despite the territorial limitations of data sharing. We have no indication of non-cooperation from the authorities and we continue to engage proactively and to provide our support to address this matter with transparency and responsibility.”
In an interview with YourStory earlier this month, Shetty confirmed that all of WazirX’s assets have since been moved out of Liminal.
Edited by Kanishk Singh