Indian Crypto Exchange CoinSwitch Launches Nearly $70 Million Recovery Fund for WazirX Attack Victims

Indian cryptocurrency exchange CoinSwitch has announced the launch of a $69.9 million WazirX hack recovery fund, “CoinSwitch Cares,” designed to help WazirX users who lost funds as a result of a July 2024 cyberattack. As part of the program, CoinSwitch will distribute the funds to affected users over a two-year period to promote the development of the Indian crypto ecosystem. According to the official CoinSwitch Cares, any user affected by the WazirX security breach can apply for funds through the program. CoinSwitch said in its FAQ section: “Eligible users must provide proof of loss in the form of a WazirX loss statement. You must provide your WazirX loss statement and any other proof that CoinSwitch may request from time to time at its sole discretion to verify your claim of loss.”