After suffering a cyberattack, Indian crypto exchange WazirX has suspended operations and plans to launch a bounty program to freeze and recover stolen assets.
In an update on social network X, WazirX has acknowledged the impact of the cyberattack on its ability to maintain 1:1 collateral with assets and announced the temporary suspension of operations.
The exchange has also shared the immediate actions it has undertaken following the attack. These include filing a police report and informing the Financial Intelligence Unit (FIU) and CERT-In.
Its co-founder, Nischal Shetty, has said WazirX is connecting with more than 500 platforms to block identified addresses linked to stolen assets. The cooperation of these exchanges is crucial, as stolen funds move across different platforms.