WazirX is offering a bounty of Rs 192 crore to recover assets worth Rs 1,925 crore that were stolen.

A few days ago, India's largest cryptocurrency exchange hack occurred, resulting in the theft of over $230 million (approximately Rs 1,920 crore) in digital assets from WazirX. In response, WazirX, known as 'India ka bitcoin exchange,' filed a police complaint and reported the incident to the Indian Computer Emergency Response Team (CERT-In) and the Financial Intelligence Unit (FIU).

The company also contacted over 500 exchanges to block the identified addresses and began working with cybersecurity experts to assist in the recovery of the stolen funds. As part of its efforts, WazirX suspended withdrawals and paused trading on its platform, focusing solely on recovering the stolen assets and protecting customer funds. They are conducting a thorough forensic data examination and security audit to re-enable withdrawals.

Recently, WazirX posted on X (formerly Twitter), asking for assistance and announcing a Bounty Program to aid in recovering the stolen assets. Initially, the company offered $10,000 worth of USDT for actionable intelligence leading to the freezing of the funds and a 5% reward of the recovered amount as a white hat reward.

However, the initial reward was criticized by users for being too low, prompting the company to increase the reward to $11.5 million. "lol $234 million stolen and bounty $10,000. Is it some joke?" one user commented.

In response, Founder Nischal Shetty further raised the bounty to $23 million (approximately Rs 192 crore). "The total bounty has been updated to $23M. Thanks zach xbt for the suggestion," Shetty wrote on X. The bounty program will run for three months and is open to everyone except WazirX employees and their families.