BENGALURU: Crypto platform CoinSwitch has launched a Rs 600 crore recovery programme to help users impacted by cyberattack on WazirX. It said this will provide an opportunity to users to recoup losses.
A cyberattack on WazirX in July last year led to the theft of about Rs 2,000 crore worth of funds.
“As an industry leader, we wanted to do our bit to help the ecosystem, especially now, when the market has picked up. We don’t want crypto investors in India to miss opportunities. This program is an important step to rebuild what was lost,” said Ashish Singhal, co-founder, CoinSwitch.
The platform, which has over 2 crore users, said the programme will be rolled out in a way that it delivers maximum value to impacted users. Singhal said users who were affected due to cyberattack can recover losses and re-enter the market.
Users can upload their WazirX statements for verification and estimate recovery on CoinSwitch Cares portal. It said eligible users can earn up to 10% of the funds deposited through this program over two years.