Bitrabo Editorial
After experiencing a cyberattack resulting in the theft of Shiba Inu (SHIB), Ethereum (ETH), and other cryptocurrencies worth millions of dollars, WazirX has introduced an official bounty program. The popular Indian exchange has pledged to reward individuals who assist in recovering the stolen assets.
WazirX Introduces Bounty Program for Asset Recovery
WazirX has announced via its official X account that it has launched a bounty program in response to a recent cyberattack on one of its Multisig wallets. The team revealed that the bounty program’s primary focus is to recover the stolen assets from the hackers.
A hack on July 18 resulted in malicious actors stealing $234.9 million worth of ETH, PEPE, USDT, and other cryptocurrencies from the exchange. Additionally, over $100 million worth of SHIB tokens were taken from the exchange’s secure Multisig wallet during the attack.
Initially, WazirX’s co-founder Nischal Shetty announced a $11.5 million reward for assisting in recovering the funds. However, the bounty was later increased to up to 10% of the stolen assets, totaling $23 million.
WazirX has invited ethical hackers, cybersecurity professionals, and blockchain forensics experts worldwide to participate in the bounty program and safeguard the crypto ecosystem. The exchange provided detailed information about the program and its reward system through an official blog post.
The bounty program consists of two rewards. The first bounty offers up to $10,000 worth of USDT for identifying, tracking, and providing actionable intelligence to help freeze the exploited funds. The second bounty involves recovering the stolen assets, with successful participants receiving 10% of the total amount as a reward.
Criteria for WazirX Bounty Program
WazirX specified that the bounty program will run for three months from the announcement date, although the timeframe is subject to change. Eligibility requirements include excluding current and former WazirX employees and their immediate family members. Participants must submit detailed tracking information and ensure confidentiality.