Crypto Exchange WazirX to Offer Bounty to Recover Stolen Assets

Days after unknown hackers breached the WazirX crypto exchange and stole $234 Million amounting to half of investors’ funds, the exchange founders announced a bounty program to recover the stolen assets. 

On July 18, a massive security breach was reported in the multisig wallet of WazirX, India’s largest cryptocy exchange, which led to the theft of $234.9 Million worth of assets. Following the hack, WazirX halted all withdrawals from their platform and informed users that they have approached police for investigation. 

On Saturday, Nischal Shetty, co-founder of WazirX, took to X to announce a “bounty program” to recover the stolen assets from their platform amounting to $234.9 Million. 

“We’re preparing a bounty program to help us freeze/recover the stolen assets. Further discussions on continuous tracing of fund movements, we’re in touch with a few teams that claim to be experts at this. We’ve informed all the other exchanges. Some have responded, some have yet to. We are following up.

 Their support in recovery will be crucial as the stolen funds move. We are also analysing data to understand the extent of damage and working on further law enforcement and regulatory procedures,” claimed Shetty in his X post. 

Shetty also called for a unified support from the crypto ecosystem worldwide and that of India against this “unprecedented cyber attack” on their platform.“If as an ecosystem we come together, we can find a solution which will help us keep the ethos of Web3 communities alive and bring hope for future participants of this ecosystem,” said Shetty.