According to Liminal, Grant Thornton’s review of Liminal’s infrastructure found no indication of any security breach in the company’s front-end or back-end systems. Following the Wazirx breach that resulted in the theft of more than $230 million, internal and third-party investigations at Liminal identified data discrepancies, although no security vulnerabilities were discovered. The company stressed that it does not have the ability to initiate transactions on behalf of customers, emphasizing its security protocols.
Grant Thornton confirms Liminal's security system, company claims
Liminal Custody announced on social media platform X on Monday that leading auditing firm Grant Thornton has confirmed “the security of Liminal’s front-end infrastructure and administrative interface.” The company noted that following a security incident at cryptocurrency exchange Wazirx, it conducted “extensive reviews to thoroughly review the situation.” Wazirx alleged that the breach originated from Liminal’s system.
In response to the July breach at Wazirx, Liminal conducted an internal investigation and hired third-party auditors to assess the security of its systems, the company detailed in a blog post. The investigation found “mismatches between data provided by Liminal and data received from customer systems,” raising questions about the potential compromise of the company’s front-end systems. Grant Thornton’s review found that Liminal’s web application infrastructure, including its user interface (UI), exhibited no vulnerabilities. Liminal reported:
Grant Thornton has conducted a detailed review of Liminal's infrastructure and informs us that Liminal's user interface infrastructure and administration platform are secure, with no evidence of any breaches or vulnerabilities related to the trading process.
Liminal's infrastructure supports self-custody wallets, where customers maintain control of their private keys. The company reiterated that it cannot execute transactions on behalf of customers, as actions are initiated solely by the customer's system. Liminal reiterated its commitment to increased security and transparency. "Based on these findings, it is highly likely that the issue originated outside of Liminal's systems and infrastructure," the company stressed, adding:
We reiterate that the product involved in this incident was our self-custody wallet infrastructure, where the majority of the private keys used to control and operate the wallet remained on the customer's infrastructure.
“In this product, Liminal can never initiate a transaction and every transaction always starts from our client side first,” the custodian company stated.
Wazirx also maintained that its systems were not breached. In August, the exchange said that cybersecurity firm Mandiant, a subsidiary of Google, had verified the security of the laptop used by a Wazirx employee during the breach.
What do you think about Grant Thornton’s findings and Liminal’s response to the Wazirx security incident? Let us know in the comments below.
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