Liminal, a prominent digital wallet infrastructure provider, has been cleared of any security vulnerabilities following an external audit conducted by the leading audit firm, Grant Thornton. The audit was carried out in response to concerns raised after a major breach at WazirX, a cryptocurrency exchange, on July 18. Despite industry speculation and heightened scrutiny, the audit report confirmed that Liminal’s systems were not compromised, reaffirming the platform’s commitment to security and transparency.
Background: The WazirX Breach
The hack on WazirX, one of India’s largest cryptocurrency exchanges, occurred in mid-July and involved the theft of a significant amount of cryptocurrency. The breach sent shockwaves across the industry, raising concerns about the safety of digital wallets and related infrastructure providers. Since Liminal is a widely used custodial wallet platform in the blockchain and cryptocurrency space, questions arose regarding whether its systems had been compromised during the attack.
Liminal’s Response and the Independent Audit
In response to these concerns, Liminal proactively engaged Grant Thornton, an internationally recognized auditing and advisory firm, to conduct a comprehensive security audit. The audit aimed to ensure that Liminal’s infrastructure remained secure and was not affected by the vulnerabilities that led to the WazirX breach.
Grant Thornton conducted an in-depth review of Liminal’s security protocols, infrastructure design, and operational procedures. The auditors tested for potential weaknesses that could expose the platform to similar attacks, particularly examining how Liminal manages its custodial wallet solutions, secure key management, and transaction processing.
Audit Results: No Vulnerabilities Found
The results of the audit were conclusive—Liminal’s systems were entirely secure and unaffected by the WazirX breach. Grant Thornton’s report did not find any vulnerabilities in Liminal’s infrastructure that could have been exploited during or after the attack on WazirX. This clean audit is a testament to Liminal’s robust security architecture and operational integrity.
In a statement, Liminal’s CEO emphasized the platform’s priority on security:
“We take the trust of our users very seriously. The WazirX incident was unfortunate, but we acted swiftly to reassure our clients by commissioning a third-party audit. The clean audit report from Grant Thornton confirms that our security protocols are best-in-class and continue to protect our users’ digital assets.”
Strengthening Confidence in Crypto Custody Solutions
Liminal’s independent security audit comes at a critical time for the cryptocurrency industry, where security remains one of the top concerns. Breaches like the WazirX hack highlight the importance of rigorous security measures and the need for platforms to undergo regular audits. Liminal’s transparency in engaging a third-party firm like Grant Thornton to review its security protocols sets a positive precedent for other companies in the space.
This incident also highlights the growing role of independent audits in building trust within the digital asset ecosystem. As the cryptocurrency industry continues to evolve, external audits and public security assessments are becoming crucial for ensuring accountability and instilling confidence among users.
The Road Ahead for Liminal
With the positive audit results, Liminal can now move forward with renewed trust from its clients. The platform’s decision to prioritize transparency and undergo an independent review has reinforced its reputation as a secure and reliable custodial wallet provider.
As the crypto industry grapples with security concerns, Liminal’s approach serves as an example for how companies can proactively manage risks and protect their clients in an increasingly digital and decentralized financial world.
