According to ~ Hacking attack It resulted in the theft of millions of dollars. Shiba Inu (SHIB), Ethereum (ETH) And among other coins, WazirX has launched an official bounty program. The popular Indian exchange has promised to reward anyone who helps in recovering stolen assets.
WazirX Announces Bounty Program for Asset Recovery
WazirX have announce In response to recent events, they announced via their official X (formerly Twitter) account that they have launched a bounty program. Cyber attack In one of the multisig wallets. The team of the Indian exchange said that the bounty program will be focused on recovery. Stolen property From malicious actors.
On July 18, WazirX was hacked by malicious actors. stole $234.9 million The value of ETH, PEPE, USDT and other cryptocurrencies on exchanges reached $10 million due to hacking attacks. $100 million worth of SHIB tokens Stolen from a secure multisig wallet on an exchange.
Initially, Nischal Shetty, Co-founder of WazirX, Revealed On July 21, the exchange announced that it would be offering a reward of $11.5 million. Recover stolen funds. However, the WazirX team later Revised The bounty has been increased to up to 10 percent of the stolen assets, or $23 million.
The Indian exchange has invited hat hackers, cybersecurity experts and blockchain forensics experts from around the world. Bounty Program And protect the integrity of the crypto ecosystem. Through the formula Blog PostsWazirX also revealed more details about the bounty program and reward allocation.
According to the exchange, there are two bounties in the program. The first bounty offers participants up to $10,000 worth of USDT. The requirement for this bounty is to identify, track, and provide actionable information that can help WazirX or the participant freeze. Exploited funds.
The second bounty is to facilitate the recovery of stolen assets. WazirX has announced that it will award 10% of the total amount as a white hat incentive to participants who successfully recover their assets. The rewards will also be paid out as follows: USDT Alternatively, the form in which the funds are recovered will be determined at the sole discretion of WazirX.
Requirements for WazirX Bounty Program
In a blog post WazirX When mentioning the duration of the bounty program, it was emphasized that it will run for three months from the date of announcement. This period is subject to change and may be extended or shortened with or without notice to the participants participating in the program.
The exchange also provided a list of eligibility requirements to join the program. WazirX stated that the bounty program is open to everyone except current and former employees of WazirX and their immediate family members. Also, bounty program participants must submit detailed information on how they will be tracked and ensure that all submitted information is kept confidential.
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