Blockchain
WazirX Suspends Trading Amid Cyberattack, Initiates Bounty for Asset Recovery
WazirX, a prominent Indian cryptocurrency exchange, halted trading following a cyberattack that resulted in the theft of $235 million.
In response, WazirX introduced a bounty program to encourage experts and the community to assist in recovering the stolen funds.
The exchange has reached out to over 500 other exchanges to block addresses associated with the theft and is collaborating with law enforcement and forensic specialists.
Co-founder Nischal Shetty highlighted the importance of extensive cooperation to track the stolen funds, having filed police reports and alerted authorities such as the Financial Intelligence Unit (FIU) and CERT-In.
The support from the Web3 community was recognized as vital in addressing the issue.
Additionally, Binance plans to return to India after settling a $2 million non-compliance fine.
This attack on WazirX marks the second-largest hack of a centralized exchange recently, following a $305 million exploit of DMM.
Crypto investigator ZachXBT noted that the attacker’s wallet still contains over $104 million.
Source: cryptohead.io
The post WazirX Suspends Trading Amid Cyberattack, Initiates Bounty for Asset Recovery appeared first on HIPTHER Alerts.
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