Liminal Platform for managing Digital Assets

Liminal is a digital asset custody platform that provides secure and compliant infrastructure for managing digital assets. Here are some key details about Liminal's platform:

Key Features and Services

1. Secure Custody Solutions:

- Multisig Wallets: Liminal utilizes multisignature (multisig) wallets which require multiple private keys to authorize a transaction. This enhances security by reducing the risk associated with single points of failure.

- Hardware Security Modules (HSMs): These are specialized hardware devices designed to protect and manage digital keys for strong authentication and provide cryptoprocessing.

2. Compliance and Regulation:

- Regulatory Compliance: Liminal ensures that its services adhere to the regulatory requirements of different jurisdictions, providing a compliant environment for institutional clients.

- AML/KYC Integration: The platform integrates Anti-Money Laundering (AML) and Know Your Customer (KYC) procedures to meet legal standards and enhance security.

3. User-Friendly Interface:

- Dashboard and Reporting: Liminal offers an intuitive dashboard for managing assets, viewing transaction histories, and generating reports.

- Whitelisting Policies: To enhance security, Liminal supports address whitelisting, ensuring that transactions are only sent to pre-approved addresses.

4. Partnerships and Integrations:

- API Integration: Liminal provides API support for seamless integration with various trading platforms, exchanges, and other financial services.

- Collaboration with Security Firms: Liminal collaborates with leading security firms to conduct regular audits and ensure the integrity of their platform.

Security Incident Involving WazirX

The recent security incident involving WazirX highlights some challenges even for robust custody solutions like Liminal:

1. Incident Overview:

- The breach involved a multisig wallet used by WazirX and managed through Liminal. A discrepancy between the transaction details shown on Liminal’s interface and the actual transaction led to unauthorized asset transfers.

2. Security Measures and Breach Mechanics:

- Multisig Setup: The wallet had six signatories (five from WazirX and one from Liminal). Transactions required multiple approvals, including a final approval from Liminal’s signatory.

- Potential Vulnerability: The attack exploited a mismatch between the displayed data and the signed transaction payload, suggesting a sophisticated manipulation possibly outside the immediate control of Liminal's security protocols.

For more detailed information about Liminal's services and their security measures, you can visit their [official website](https://liminal.digital).

### Sources:

- [Business Standard](https://www.business-standard.com/article/technology/wazirx-suffers-security-breach-digital-assets-worth-234-million-swindled-124071801135_1.html)

- [WazirX Blog](https://wazirx.com/blog)