The exchange remains focused on addressing the impact on customer funds and ensuring the security and integrity of their platform.
In response to a significant cyberattack, WazirX, one of India’s leading cryptocurrency exchanges, has announced a bounty program to freeze and recover stolen assets.
In a post on social media platform X, WazirX detailed several immediate actions taken following the cyberattack. The exchange has filed a police complaint and reported the incident to the Financial Intelligence Unit (FIU) and CERT-In.
Additionally, WazirX co-founder Nischal Shetty shared that the exchange is contacting over 500 exchanges to block the identified addresses linked to the stolen funds. Cooperation from these exchanges is crucial as the stolen assets move through various platforms.
WazirX Seeks Expert Help
Shetty mentioned that the WazirX team is preparing a bounty program to encourage individuals and entities to assist in freezing or recovering the stolen assets. This initiative is part of their strategy to strengthen efforts in tracing the stolen funds. The team is also in talks with several expert groups specializing in tracking cryptocurrency transactions, who will provide continuous monitoring and support during the recovery process.
WazirX expressed gratitude for the support from the broader Web3 ecosystem, emphasizing the importance of a collective effort to resolve the issue and uphold the principles of Web3 communities.
Summary Review: WazirX’s launch of a bounty program to recover stolen assets highlights the exchange’s commitment to protecting customer funds and maintaining platform security. By engaging with other exchanges and expert groups, WazirX aims to trace and recover the stolen assets efficiently. The collective response from the Web3 community will play a crucial role in addressing the cyberattack and reinforcing the security of the cryptocurrency ecosystem.
Disclaimer: Remember that nothing in this article and everything under the responsibility of Web30 News should be interpreted as financial advice. The information provided is for entertainment and educational purposes only. Investing in cryptocurrency involves inherent risks and potential investors should be aware that capital is at risk and returns are never guaranteed. It is imperative that you conduct thorough research and consult with a qualified financial advisor before making any investment decision.
