WazirX Eyes Bounty Program to Help Recover $234M in Stolen Funds

• WazirX has shared its next steps following an unprecedented attack.
• The exchange was exploited for $234 million.
• Efforts to recover the stolen funds are underway.

WazirX co-founder Nischal Shetty has updated the public on the next steps the crypto exchange intends to take following a multimillion-dollar hack.  

On July 19, WazirX suffered an “unprecedented attack” that saw it lose about $234 million in assorted cryptos. The exploit marked the second-largest security breach on a CEX recently after DMM Bitcoin’s $305 million hack on May 30.

WazirX’s Next Steps After Hack

In a recent X (Twitter) post , Shetty said that the WazirX team was preparing a bounty program to help it freeze or recover the stolen assets. This includes $102 million in SHIB, $52.5 million in ETH, $11.24 million in MATIC, $7.6 million in PEPE, $3.59 million in GALA, and $5.79 million in USDT.

In addition to informing other exchanges about the security incident, the team said that it was engaging in further discussions on the continuous tracing of fund movements and that it had reached out to a “few teams that claim to be experts at this.”

“I’m providing steps as we take them. We want to ultimately address the impact to customer funds, but we need to first analyse all the data before we can plan next steps,” Shetty wrote. “As we plan ways to solve this issue, we will need support and help from the entire ecosystem.”

Other steps the exchange took include working on further law enforcement and regulatory measures to help remedy the situation.

Meanwhile, WazirX has urged X crypto users to beware of fake social media profiles, websites, and emails impersonating the exchange to spread false information about the exploit.

Stay updated on the controversial Rho Protocol attack:
Was $7.6M Rho Protocol Exploit a Hack? Suspected Attacker Denies Wanting to Steal from Users

Read about another exploit that recently hit Dough Finance:
Dough Finance Issues Ultimatum to Hacker After $1.8M Exploit