CoinSwitch expects it will take two years to distribute $70 million in recovery funds to WazirX users who lost money due to an alleged cyberattack last year.
Indian cryptocurrency exchange CoinSwitch seeks to acquire customers from the hacked competitor exchange WazirX by offering a recovery fund to WazirX hack victims.
CoinSwitch took to X on Jan. 7 to officially announce the launch of a WazirX hack recovery fund of 600 crore Indian rupees ($69.9 million).
“CoinSwitch Cares,” the company’s recovery fund, aims to help WazirX users who lost money due to an alleged cyberattack in July 2024.
