In response to a major cyber attack on July 18, 2024, which resulted in the theft of over $230 million worth of digital assets, one of the leading Indian cryptocurrency exchange WazirX has announced a comprehensive bounty program on July 21, 2024.
The initiative aims to enlist the global community’s help in tracking, freezing, and recovering the stolen funds.
The WazirX Bounty Program features two key components: the Track & Freeze Bounty and the White Hat Recovery Bounty.
These initiatives are designed to leverage the skills and expertise of the broader community, including cybersecurity experts, blockchain analysts, and ethical hackers.
Track & Freeze Bounty
Participants are invited to identify, track, and provide actionable intelligence that leads to the freezing of the stolen funds. Successful contributors can earn up to $10,000 worth of USDT.
This bounty emphasizes the need for clear evidence and actionable information, ensuring that the provided data can directly result in the freezing of the stolen assets.
White Hat Recovery Bounty
This component offers a substantial reward of 10% of the recovered amount, up to a maximum of $23 million.
The bounty is specifically directed at ethical hackers who can facilitate the legal and ethical recovery of the stolen funds.
Participants are required to demonstrate a detailed proof of concept and ensure the recovery is verifiable.
The bounty program will run for three months from the date of this announcement, though this period may be adjusted based on the program’s progress and results.
Terms and Conditions
The program is open to all, excluding current and former WazirX employees and their immediate family members.
Participants must maintain confidentiality and submit detailed information, including transaction trails and blockchain data analysis.
The rewards will be disbursed in USDT or in the form of recovered funds at WazirX’s discretion.
Interested participants can register by emailing their intent to [email protected] and must submit their findings via the same email.
The WazirX security team will review all submissions within 72 hours and determine the eligibility and reward amount.
Rewards will be paid within 60-90 days following the successful recovery of the stolen funds.
WazirX has emphasized its commitment to transparency and security in the wake of the cyber attack and is working closely with law enforcement agencies to facilitate the recovery process.
The company has also stated that it reserves the right to amend the terms of the bounty program as necessary.
About WazirX
Established in 2017, WazirX is one of the leading cryptocurrency exchange platform that facilitates the buying, selling, and trading of a wide range of digital assets.
It serves both novice investors and seasoned traders, offering comprehensive services across cryptocurrencies, blockchain technology, and digital asset management.
According to their website, WazirX specializes in various digital currencies including Bitcoin, Ethereum, Ripple, Tron, and Matic, as well as features like P2P transactions and NFTs, with a strong focus on the Indian market.
