WazirX Announces Two Bounty Programs to Recover $234M Stolen from Its Safe Multisig Wallet

India's largest crypto exchange WazirX announced Sunday two sets of bounties to recover $234 million stolen from its Safe Multisig wallet on the Ethereum Network on July 19.

India’s largest crypto exchange announced Sunday two sets of bounties to recover $234 million stolen from its Safe Multisig wallet on the Ethereum Network on July 19.

The development comes after WazirX co-founder, Nischal Shetty, hinted earlier on Saturday that the exchange was taking several steps to recover the stolen funds. This included engaging with law enforcement and regulators, reaching out to other exchanges, and setting up a bounty program.

The Bounty Program

In a statement dated July 21, WazirX said the two bounty initiatives will help track, freeze, and recover the stolen assets, which include millions of dollars in SHIB, ETH, MATIC, PEPE, GALA, and USDT.

The first bounty offers a reward of up to $10,000 to whoever will give “actionable intelligence” leading to the freeze of the stolen funds.

The second bounty, whose objective is to recover all of the stolen funds, offers 10% of the recovered amount as a white hat incentive. This means users who submit the bounty could be rewarded with up to $23 million, payable in USDT.

While WazirX noted that the bounty program is valid for three months, the exchange said the period may be reduced, extended, or amended without notice to participants. However, any change will be based on requirements and results, WazirX said.

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