WazirX Announces a Bounty Program

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WazirX co-founder Nischal Shetty has announced a reward program to support the exchange in recovering or freezing the funds that were stolen during a recent hack. The hack resulted in losses of over $234 million in various cryptocurrencies.

According to a post by Shetty, the bounty program was launched today. Initially, WazirX had set a bounty of $11.5 million for recovering the assets, but this amount was later increased to $23 million after the intervention of crypto security expert ZachXBT.

The exchange hopes that the program will encourage the crypto community to assist in recovering the funds stolen in the July 18 cyberattack.

The program has two components, the first being a track and freeze bounty that aims to locate and freeze the stolen assets. The second is a white hat recovery bounty, offering a reward of 10% of the recovered amount to those who help retrieve the stolen funds.

The exchange has publicly shared an ERC20 wallet address for the return of the stolen funds, as shown below.