Crypto Exchange WazirX Offers Rs 180 Crore Bounty Following Major Security Breach

In a bold move to recover stolen crypto assets worth Rs 1880 crore ($230 million), WazirX, one of India’s leading cryptocurrency exchanges, has announced a bounty programme offering a total of Rs 188 crore ($23 million). This initiative comes in the wake of a significant security breach that compromised WazirX’s Safe Multisig wallet on the Ethereum network.

Details of the Bounty Programme:

1. Programme Duration: The bounty programme will be active for three months starting from July 21, with a possibility of extension or reduction based on the recovery progress.

2. Types of Bounties: WazirX is offering two types of bounties as part of its recovery efforts:

– Track and Freeze Bounty: This bounty invites participants who can provide actionable intelligence leading to the freezing of the stolen funds, with rewards of up to Rs 8 lakh ($10,000) worth of USDT (Tether). Participants unable to freeze the funds themselves must collaborate with WazirX.

– White Hat Recovery Bounty: This encourages ethical hackers and experts to assist in the recovery process, offering a reward equivalent to 10% of the recovered amount, potentially up to Rs 1880 crore ($23 million). This offer extends to the hacker involved in the breach, provided the stolen funds are returned to the specified ERC20 wallet address.

From WazirX Hack to Crypto Security: What Experts Say About the $230 Million Theft

Call to Action:
WazirX is appealing to white hat hackers, blockchain forensics experts, and cybersecurity professionals worldwide to join this mission. The company, founded in 2017, specializes in various aspects of cryptocurrency and blockchain technology and is committed to maintaining a secure and resilient digital finance ecosystem.

Company Statement:
“Our foremost goal is to recover the stolen funds. This bounty programme is designed to tap into the expertise of the community to achieve this critical objective. We remain committed to transparency and collaboration, reinforcing our dedication to a secure and resilient digital finance ecosystem,” said Nischal Shetty, co-founder of WazirX.

WazirX is a prominent cryptocurrency exchange in India, allowing users to buy, sell, and trade digital assets. It caters to both first-time investors and professional traders, specializing in a wide range of cryptocurrencies and blockchain technologies.

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