Akshata Sharma
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A few days ago, India witnessed its largest crypto exchange hack, resulting in the theft of over $230 million (approximately Rs 1,920 crore) in digital assets from WazirX.
Following this, WazirX, which brands itself as 'India ka bitcoin exchange,' filed a police complaint and reported the incident to the Indian Computer Emergency Response Team (CERT-In) and the Financial Intelligence Unit (FIU).
Notably, the company also suspended withdrawals and paused trading on its platform as it is solely focused on recovering the stolen funds and safeguarding customer assets.
In a recent post on X, WazirX asked for assistance. The company announced a Bounty Program to help recover the stolen assets.
Initially, it offered $10,000 worth of USDT for actionable intelligence that leads to freezing the funds, and a 5% incentive of the recovered amount as a white hat reward.
However, this initial reward was criticized by netizens for being insufficient. In response, the reward was increased to $11.5 million.
Founder Nischal Shetty further raised the bounty to $23 million (approximately Rs 192 crore).
"The total bounty has been updated to $23M. Thanks zachxbt for the suggestion," Shetty wrote on X
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