{"id":15382,"date":"2024-07-20T16:28:29","date_gmt":"2024-07-20T13:28:29","guid":{"rendered":"https:\/\/forklog.com\/en\/wazirx-offers-reward-for-assistance-in-fund-recovery\/"},"modified":"2024-07-20T16:28:29","modified_gmt":"2024-07-20T13:28:29","slug":"wazirx-offers-reward-for-assistance-in-fund-recovery","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/wazirx-offers-reward-for-assistance-in-fund-recovery\/","title":{"rendered":"WazirX Offers Reward for Assistance in Fund Recovery"},"content":{"rendered":"<p>Following a $234.9 million hack, Indian cryptocurrency exchange WazirX has filed a report with law enforcement and initiated preparations to recover client assets.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">? Update: In response to the cyber attack, we have filed a police complaint and are pursuing additional legal actions. We will keep the community updated as we proceed.<\/p>\n<p>\u00bb Immediate Actions: We have reported the incident to the Financial Intelligence Unit (FIU) and CERT-In.\u2026<\/p>\n<p>\u2014 WazirX: India Ka Bitcoin Exchange (@WazirXIndia) <a href=\"https:\/\/twitter.com\/WazirXIndia\/status\/1814250505851588932?ref_src=twsrc%5Etfw\">July 19, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;We have reported the incident to the Financial Intelligence Unit of India and <span data-descr=\"Indian Computer Emergency Response Team\" class=\"old_tooltip\">CERT-In<\/span>. We have reached out to over 500 exchanges to block identified addresses. Many platforms are cooperating, and we are actively working with them to find additional resources for recovery [of funds],&#8221; the statement reads.<\/p>\n<\/blockquote>\n<p>WazirX co-founder Nischal Shetty wrote a separate post announcing the preparation of a bounty program. The initiative aims to assist in the &#8220;freezing or recovery&#8221; of stolen assets.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">WazirX Team is actively working on next steps.<\/p>\n<p>1. We\u2019re preparing a bounty program to help us freeze\/recover the stolen assets<br \/>2. Further discussions on continuous tracing of fund movements, we\u2019re in touch with a few teams that claim to be experts at this.<br \/>3. We\u2019ve informed all\u2026<\/p>\n<p>\u2014 Nischal (Shardeum) ? (@NischalShetty) <a href=\"https:\/\/twitter.com\/NischalShetty\/status\/1814568500473606386?ref_src=twsrc%5Etfw\">July 20, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The exchange team is also in discussions with several expert groups specializing in tracking cryptocurrency transactions, Shetty added.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;We have informed other trading platforms. Some have responded, others have not. We are monitoring this. Their support in recovery will be crucial as the stolen funds move,&#8221; he noted.<\/p>\n<\/blockquote>\n<p>Currently, the team is analyzing data to assess the extent of the damage. According to the company&#8217;s co-founder, this &#8220;unprecedented attack on one of India&#8217;s largest crypto exchanges has negatively impacted the entire Web3 ecosystem.&#8221;<\/p>\n<p>Earlier, analysts from Elliptic traced the movement of funds stolen from WazirX. They concluded that North Korean hackers were behind the breach.<\/p>\n<p>Back in early 2022, the exchange was accused of evading taxes amounting to over $6 million.<\/p>\n<p>In August of the same year, India&#8217;s Ministry of Finance Enforcement Directorate suspected WazirX of laundering $350 million. According to media reports, the regulator froze the platform&#8217;s assets worth $8.16 million as part of the case. Later, the company regained access to the accounts thanks to its cooperation with the investigation.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Following a $234.9 million hack, Indian cryptocurrency exchange WazirX has filed a report with law enforcement and initiated preparations to recover client assets. ? Update: In response to the cyber attack, we have filed a police complaint and are pursuing additional legal actions. We will keep the community updated as we proceed. \u00bb Immediate Actions: [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":15381,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1166,44],"class_list":["post-15382","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-centralized-exchanges-cex","tag-cybercrime"],"aioseo_notices":[],"amp_enabled":true,"views":"9","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/15382","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=15382"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/15382\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/15381"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=15382"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=15382"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=15382"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}