WazirX Announces a $23M Bounty To Recover Siphoned Assets The crypto startup is seeking help from white hat hackers, blockchain forensics experts, and cybersecurity professionals to recover the assets.
You're reading BIZ Experiences India, an international franchise of BIZ Experiences Media.
After a few days of assets worth USD 230 million being stolen from a multisig wallet of WazirX, the crypto player has announced a bounty program to recover the stolen funds.
Initially, the bounty stood at USD 11.5 million, but is now raised to USD 23 million.
"We've launched a bounty program today to help track, freeze and recover the stolen assets. We will need your help in spreading it across internationally so that all the white hat hackers of the world unite and help us recover these stolen assets. The world has more good people than bad and I genuinely believe that if the entire global community comes together, we can find the perpetrators and recover the stolen funds," founder Nischal Shetty took to X and said.
In response to the recent cyber attack on one of our multisig wallets, we're announcing a Bounty Program to recover the stolen assets. We invite the community to participate in:
— WazirX: India Ka Bitcoin Exchange (@WazirXIndia) July 21, 2024
Bounty 1: Track & Freeze — offering rewards up to $10,000 worth of USDT for actionable intelligence… pic.twitter.com/vxNQiZlJwM
The crypto startup is seeking help from white hat hackers, blockchain forensics experts, and cybersecurity professionals to recover the assets.
Participants will be needed to track and provide actionable intelligence that leads to the fund freezing. This will have rewards of up to USD 10,000 worth of USDT. Additionally, ethical hackers and experts will be required to assist in the recovery process and have a reward equivalent to 10 per cent of the recovered amount.
"This could potentially amount to $23 million, making it one of the largest bounties ever offered in the crypto industry," the official blog read.
