WazirX Enhances White Hat Reward to 10% Post $230M Hack: Prioritizes User Security

WazirX, a leading cryptocurrency exchange, recently faced a significant cyber attack resulting in the theft of over $230 million from a multi-signature wallet. This breach forced the company to pause trading as they worked to maintain the 1:1 ratio between tokens and assets.

In response to the attack, WazirX quickly rolled out a robust counter-strategy, showcasing their commitment to user safety. The company launched an enhanced Bounty Program aimed at recovering the stolen cryptocurrency. This initiative is open globally to white hat hackers, blockchain analysts, and cybersecurity experts, encouraging their participation in recovering user assets.

Initially, the bounty was set at 5% ($11.5 million) but was later increased to 10% (up to $23 million) following feedback from renowned blockchain investigator ZachXBT.

WazirX has introduced two specific bounties under this program:

1. Track & Freeze Bounty: Offering up to $10,000 USDT for information that can lead to freezing the stolen assets.
2. White Hat Recovery Bounty: Providing a 10% reward of the recovered amount as a 'white hat' incentive.

Nischal Shetty, the owner of WazirX, announced that the team will conduct a comprehensive forensic data assessment and security review to address the vulnerabilities and restore normal operations. Emphasizing user security, WazirX assured that withdrawals will soon be allowed.

In a recent tweet, Nischal Shetty praised the relentless efforts of his team, who have been working around the clock to resolve the issue and support the community. He stated, "It will take time, but we will not stop," highlighting the team's dedication during this crisis.

WazirX remains transparent with its community, promising to keep them informed as they navigate this challenge. The company seeks the community's cooperation and support during this difficult period.

Stay tuned for more updates on WazirX’s efforts to enhance security and ensure the safety of user assets.

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