WazirX Posts $11 Million Bounty After Hack Attack

Indian crypto trading platform WazirX has offered an $11 million reward in hopes of catching the hackers and recovering the funds.

After suffering a massive hack earlier this week, Indian cryptocurrency exchange WazirX has announced an $11 million bounty. This is in the hope that the public can join the hunt that could lead to the recovery of the stolen funds.

After a brief lull in exchange-related hacks, the trend changed when WazirX suffered a $230 million hack on July 18. The attack was unprecedented and the hacker siphoned off many altcoins. As previously reported by Coingape, the Shiba Inu suffered the most as the hacker stole more than 5.4 trillion SHIBs. Additionally, the exploiter also stole 15,298 Ethereum, 20,501,141 MATIC, and 640.2 billion PEPE, among others.

To offset these funds, the exchange said its $11 million rewards program was opened to everyone. Bounty is divided into two directions, including Track and Freeze and White Hat Recovery.

In the Track and Freeze option, interested participants can help track the flow of funds. Users can earn a $10,000 reward for any action that leads to the identification and freezing of wallets belonging to the WazirX hacking mastermind.

Awards like this have been known to produce positive results in the past. The trading platform believes that this strategy can emerge as a quick and more efficient tool to recover funds. Hackers can also collect White Hat tags if they voluntarily return the stolen money. However, previous reports confirmed that the perpetrators converted some of the stolen assets into Ethereum.