WazirX, India’s largest cryptocurrency exchange, has launched a bounty program following a $230 million security breach involving suspicious transactions from its multisig hot wallet.
The breach resulted in nearly a quarter billion dollars worth of crypto being transferred to a new address, which has been actively exchanging various digital assets for ETH, including a significant transfer of 5.4 trillion Shiba Inu (SHIB) valued at $102.13 million.
The bounty program aims to recover the stolen assets and prevent further losses. It includes two key components:
Track & Freeze Bounty: Offers up to $10,000 worth of USDT for actionable intelligence leading to the freezing of stolen funds.
White Hat Recovery Bounty: Provides a 5% incentive of the recovered amount for those who assist in the recovery process.
The total bounty available for asset recovery is set at $23 million, as announced by Nischal Shetty, founder and CEO of WazirX.
Image Credit: Pixabay
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