WazirX, one of India's foremost cryptocurrency exchanges, faced a devastating cyberattack in July 2024, leading to the theft of over $230 million in digital assets. This breach targeted a multisignature wallet jointly managed by WazirX and Liminal, a digital asset custody service known for its stringent security measures. Despite these safeguards, the attackers exploited a subtle flaw in the synchronization between Liminal's interface and the underlying transaction data, enabling them to circumvent the system's defenses and execute unauthorized transfers. The stolen assets comprised a significant portion of WazirX's reserves, including $102.1 million in Shiba Inu (SHIB) tokens, $52.6 million in Ethereum (ETH), $11 million in Matic, and $7.6 million in Pepe. The perpetrators quickly laundered these assets through decentralized platforms, primarily converting them into Ethereum. At their peak, the hackers controlled over 59,000 ETH, valued at approximately $201.67 million. This incident has severely undermined confidence in the security of digital asset platforms, particularly within the Indian crypto community, which has already been navigating regulatory uncertainties. In response to this attack, WazirX has taken immediate steps to mitigate the damage. The exchange has suspended all cryptocurrency withdrawals and blocked several deposits to prevent further unauthorized transactions. WazirX is collaborating with blockchain experts to trace the stolen assets and is proactively assisting affected users in recovering their funds. The exchange has also committed to keeping its users informed about ongoing developments and is employing all available resources to restore the compromised assets. This breach underscores the urgent need for stronger security measures across the cryptocurrency industry, as cyber threats continue to evolve and become more sophisticated.