WazirX Prepares Bug Bounty Program to Freeze or Recover $234M Stolen in Hack, Co-Founder Shetty Says

On July 19, WazirX suffered an “unprecedented attack” that saw it lose about $234 million in assorted cryptos.

Crypto exchange WazirX has provided an update on its next steps following a multimillion-dollar hack last week.

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 centralized exchange (CEX) in recent times, after DMM Bitcoin’s $305 million hack on May 30.

WazirX’s Next Steps After Hack

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

Apart from informing other exchanges about the 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.”

Other steps taken by the exchange 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.

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