after hack attack resulting in the theft of millions of dollars Shiba Inu (SHIB), Ethereum (ETH) WazirX has launched an official bounty program for the recovery of stolen assets. The prominent Indian exchange has promised to reward anyone who helps in recovering stolen assets.
WazirX Announces Asset Recovery Bounty Program
Wazirx he have Advertise Via its official X account (formerly Twitter), it announced that it had launched a rewards program in response to the recent incident. Internet attack On one of its Multisig wallets. The team behind the Indian exchange revealed that the bounty program will focus on redeeming Stolen assets From malicious parties.
On July 18, WazirX was hacked by malicious actors. $234.9 million stolen The value of ETH, PEPE, USDT and other cryptocurrencies from the exchange. The hacking attack also saw more than $100 Million in SHIB Tokens These funds were stolen from the exchange’s secure Multisig wallet.
Initially, Nishal Shetty, co-founder of WazirX, a statement On July 21, the exchange announced that it would offer $11.5 million in rewards to recover stolen fundsHowever, the WazirX team later Reviewer The reward, increasing it to up to 10% of the stolen assets, is worth up to $23 million.
The Indian Stock Exchange has invited hackers, cybersecurity professionals and blockchain forensics experts from across the world to join the Reward Program And protect the integrity of the cryptocurrency ecosystem. Through the official Blog postWazirX also delved into the details of its rewards program and rewards allocation.
According to the exchange, there are two rewards under the program. The first reward will offer up to $10,000 USDT to participants. The requirement for this reward is to identify, track, and provide actionable intelligence that can help WazirX or the participant freeze the cryptocurrency. Exploited funds.
The second reward involves facilitating the recovery of stolen assets. WazirX states that participants who successfully recover assets will receive 10% of the total amount as an incentive for ethical behavior. The reward will be paid in the form of USDT Or the form of refund is at WazirX’s sole discretion.
WazirX Rewards Program Requirements
In a blog post, Wazirx He pointed out the time frame for the rewards program, confirming that it will last for three months, starting from the day of the announcement. This time frame is subject to change and can be extended or reduced with or without notice to the program participants.
Furthermore, the exchange has provided a list of eligibility requirements to join the program. WazirX revealed that the rewards program is open to everyone, except current and former WazirX employees and their immediate family members. Additionally, rewards program participants are required to provide detailed information about their tracking methods and ensure that all information provided remains confidential.
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