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In response to a $230 million security breach, WazirX announces an $11.5M bounty program to recover Shiba Inu (SHIB) and other stolen assets. Following a significant security breach that resulted in a two hundred thirty million dollar loss, WazirX, the largest cryptocurrency exchange in India, has announced a bounty scheme, U.Today reports.
After speaking to blockchain detective ZachXBT, WazirX just bumped up the bounty for white hat hackers to a whopping 10% of the stolen amount, up to $23 million. Cybersecurity company SlowMist has said the hackers are probably the notorious North Korean group Lazarus though, so the bounty might not do much good actually.
WazirX, which was recently hit by a severe cyber attack which led to more than $230 million of a multi-sig wallet being stolen, prompted the company to activate a vigorous counter-strategy immediately. The hack has caused WazirX to stop trading temporarily amidst difficulty in ensuring the 1:1 ratio between tokens and assets.
Assets are very rarely recovered from hacks linked to North Korea's Lazarus Group, like the July 18 hack of WazirX.
WazirX co-founder Nischal Shetty has announced a bounty program to help the exchange recover or freeze funds stolen in the exchange's recent hack.
WazirX floats two bounty initiatives to help recover $234 million in stolen funds.
In a major development, WazirX, India's largest cryptocurrency exchange, has announced a bounty program following a major $230 million security breach. The incident, which occurred this week, involved suspicious transactions from the exchange's multisig hot wallet, resulting in the movement of nearly quarter billion dollars worth of crypto to a new address.
Indian crypto exchange Wazirx has announced a $23 million bounty program to recover assets stolen in a cyberattack on its multisig wallet. Emphasizing community involvement, co-founder Nischal Shetty outlined the rewards for tracking, freezing, and ethically recovering the stolen funds.
After suffering a major hack earlier this week, Indian cryptocurrency exchange WazirX has announced an $11 million bounty. This is in hopes that the public might join the hunt, which might lead to the recovery of the stolen funds.
WazirX, a prominent Indian cryptocurrency exchange, recently suffered a $235 million hack. In response, the platform has proposed a 10% bug bounty to the attacker.
Peruse our Weekly Recap for last week's top stories: BTC ETFs surpass $17b in total net inflows; CrowdStrike suffers outage; WazirX hit with $234m exploit; spot ETH ETFs hope to launch on July 23.
India's WazirX has announced a bounty program after a hacking incident resulted in the loss of $230 million.
WazirX doubles down on efforts to recover millions in stolen funds from a recent exploit.
In the last day, X users have raised concern over a scam email following the recent million-dollar hack of the cryptocurrency exchange WazirX. This development comes as the management of WazirX rolls out several measures to recover the stolen funds.
Wazirx co-founder Nischal Shetty has updated the public on the $230 million security breach affecting the Indian crypto exchange. The Wazirx team is preparing a bounty program, engaging with expert teams to trace the stolen funds, and collaborating with other exchanges. “This is an unprecedented attack on one of the largest crypto exchanges in India.
After being hit by a massive hack that resulted in the loss of $235 million for its investors on Thursday, India-based cryptocurrency exchange WazirX has taken immediate steps to mitigate the damage and filed a police complaint to recover the stolen funds.
The exchange remains focused on addressing the impact on customer funds and ensuring the security and integrity of their platform.
In the aftermath of a significant $230 million hack on the WazirX cryptocurrency exchange, users have found themselves targeted by a new wave of phishing attacks. The hack occurred on July 18, 2024, compromising assets such as Shiba Inu (SHIB), Pepe Coin (PEPE), Polygon (MATIC), Ethereum, and others.
WazirX Hack Update: On Thursday, July 18, 2024, the Indian crypto exchange WazirX experienced a devastating security breach. The attack resulted in the loss of over $230 million worth of crypto assets.
Multiparty computation (MPC) wallet provider Liminal said its infrastructure remains safe and was not compromised in the recent hack of India-based crypto exchange WazirX. The firm made the statement in its post-mortem report on July 19.
The WazirX hackers, purported to be part of the North Korean Lazarus Group, have converted the altcoins from their loot into ETH. Wallet activity shows $90.
The WazirX hack underscores the urgent need for robust crypto regulations in India to ensure security, accountability, and consumer protection. The post WazirX reports $230M hack to police and cyber unit, implements recovery efforts appeared first on Crypto Briefing.
Compromised WazirX devices provided "legit transaction details" to Liminal's network, allowing the attacker to drain the exchange's funds, the MPC provider claimed.
WazirX's plan includes tracing stolen funds, recovering assets, and thorough investigation post-hack, after roping in forensic experts.
