Bounty

Hamster

Hamster Kombat

WazirX

Time

<ul>
 <li style="font-weight: 400">WazirX doubles down on the bounty program to recover the $230 million stolen funds, offering up to $23 million in rewards.</li>
 <li style="font-weight: 400">Hacker behind the WazirX hack transfers $57 million worth of stolen Ether to new wallets.</li>
 <li style="font-weight: 400">Crypto industry faces a wave of security breaches, highlighting the need for robust security measures.</li>
</ul>
Following the massive $230 million hack of WazirX, the hacker has <a href="https://twitter.com/PeckShieldAlert/status/1815308665634914524" rel="noopener noreferrer nofollow">transferred</a> $57 million worth of stolen Ether to new wallets. This development has prompted the exchange to significantly boost its bounty program, aiming to track and recover the misappropriated funds.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <a href="https://twitter.com/hashtag/PeckShieldAlert?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#PeckShieldAlert</a> The <a href="https://twitter.com/hashtag/WazirX?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#WazirX</a> Hacker -labeled addresses has transferred ~16.35K <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a> (worth ~$57m) to 2 new addresses <a href="https://t.co/AYqwXYxN15" rel="noopener noreferrer nofollow">pic.twitter.com/AYqwXYxN15</a>
 — PeckShieldAlert (@PeckShieldAlert) <a href="https://twitter.com/PeckShieldAlert/status/1815308665634914524?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 22, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
<h3 id="span-style-font-weight-400-hacker-makes-the-next-move-span">Hacker Makes the Next Move</h3>
On July 22, blockchain security firm PeckShield reported that the hacker behind the Wazirx information&nbsp;
&nbsp;breach transferred 16,350 Ether (ETH), valued at over $57 million, to two new cryptocurrency addresses. Most of the funds, over $54 million, were moved to an address beginning with “0x58d.”
This transfer represents a significant chunk of the $230 million stolen from WazirX, India’s largest crypto exchange by trading volume, marking it as the second-largest crypto hack of 2024.
<h3 id="span-style-font-weight-400-wazirx-s-enhanced-bounty-programs-span">WazirX’s Enhanced Bounty Programs</h3>
In response to the hacker’s actions, WazirX has intensified its efforts to track and recover the stolen assets by enhancing its <a href="https://wazirx.com/blog/wazirx-bounty-program/" rel="noopener noreferrer nofollow">bounty programs</a>.&nbsp;
According to a WazirX spokesperson, 54 white hat hackers have already joined the recovery initiative for two bounty programs.&nbsp;
The first, the “Track and Freeze” bounty, offers up to $10,000 in Tether (USDT) for actionable intelligence that helps track and freeze the stolen funds.&nbsp;
The second is the “White Hat Recovery” bounty, aimed at ethical hackers, which now rewards up to 10% of the recovered amount, with the maximum reward increased to $23 million.&nbsp;
This bounty program will run for three months from the date of the announcement.
<h3 id="span-style-font-weight-400-a-troubling-time-for-crypto-span">A Troubling Time for Crypto</h3>
The WazirX hack occurred during a challenging period for the cryptocurrency industry, which has been hit by several high-profile security breaches.&nbsp;
Shortly after the WazirX incident, Rho Markets suffered a hack that resulted in nearly $8 million in losses. Fortunately, the stolen assets were eventually returned, allowing Rho Markets to resume operations.
In addition, users of the popular Telegram-based game Hamster Kombat were targeted by phishing attacks and fake airdrops designed to steal their credentials and cryptocurrency holdings.
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WazirX Doubles Bounty as Hacker Moves $57 MIllion in Stolen Ether; Will It Work?

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