According to ChainCatcher news, Indian cryptocurrency exchange CoinSwitch has announced the launch of a $69.9 million WazirX hacking recovery fund 'CoinSwitch Cares,' aimed at helping WazirX users who lost funds due to a cyberattack in July 2024.
As part of the program, CoinSwitch will allocate funds to affected users over the next two years to help develop the Indian crypto ecosystem. According to official data from CoinSwitch Cares, any user affected by WazirX security vulnerabilities can apply for funds through the program.
CoinSwitch states in its FAQ section: 'Eligible users must provide proof of loss in the form of a WazirX loss statement. You must provide your WazirX loss statement along with any other proof that CoinSwitch may independently request from time to time to verify your claim of loss.'