After a massive $235 million hack in July 2024, WazirX, an India-based cryptocurrency exchange, has announced plans to relaunch trading by February 2025.

This hack, impacting about 45% of the exchange's user funds, was allegedly carried out by sophisticated cybercriminals, possibly linked to North Korea.

The attackers exploited a vulnerability in WazirX’s custody partner, Liminal, rather than directly hacking the exchange’s platform, allowing them to drain substantial crypto assets like Ethereum( $ETH ) and Shiba Inu ($SHIB )

To regain user trust and ensure fund recovery, WazirX co-founder Nischal Shetty has proposed a series of initiatives. First, they plan to issue "recovery tokens," which will let affected users reclaim approximately 48% of their lost assets over time.

In addition to these tokens, the exchange has launched a bounty program, inviting ethical hackers to help track and freeze the stolen funds, offering rewards up to $10,000 for useful leads.