In recent times, the importance of security audits in maintaining the safety and integrity of online platforms has become increasingly crucial. One such example is the comprehensive review conducted by leading global auditor Grant Thornton on Liminal’s infrastructure, following the WazirX hack on July 18.
The hack that targeted WazirX’s systems prompted Liminal to take immediate action by launching an internal investigation and engaging independent auditors to assess potential vulnerabilities within its own platform. The firm’s commitment to ensuring the security of its systems was evident as it sought to proactively address any risks that may compromise the safety of its users.
The Grant Thornton audit, conducted as part of Liminal’s broader investigation into the incident, provided assurance that the platform’s frontend, backend, and user interface were not compromised. The self-custody wallet services offered by Liminal, where private keys remain with clients, were also deemed secure and free from vulnerabilities related to the breach.
Despite the positive outcome of the audit, Liminal acknowledged the need to reinforce its security measures as a precautionary step. By emphasizing its commitment to security and transparency, Liminal demonstrated a proactive approach to addressing potential risks and ensuring the safety of its platform.
Security audits play a crucial role in safeguarding the integrity of online platforms and protecting users from potential risks. By conducting thorough reviews of their infrastructure and engaging independent auditors, companies can identify and address vulnerabilities proactively, ensuring the safety and security of their systems. The case of Liminal and the importance of security audits serve as a reminder of the constant need for vigilance and diligence in maintaining the safety of online platforms.
