Overview of WazirX Hack Bounty Program
In response to a recent hack that led to over $234 million in losses, WazirX co-founder Nischal Shetty launched a bounty program to recover or freeze the stolen funds. The program involves a total bounty of $23 million, with initiatives to track and freeze stolen assets, as well as offer rewards for white hat recovery assistance. The exchange has provided an ERC20 wallet address for the return of stolen funds.
Community Concerns and Speculations
The crypto community has expressed concerns about the recovery efforts being sluggish and speculated on the hack’s perpetrators, with some pointing towards the Lazarus Group’s involvement. Blockchain analytics firm Arkham confirmed that the hacker sold $102 million worth of SHIB, a cryptocurrency part of the stolen funds.
Analysis of WazirX Exploit Method
An analysis of the hack suggests that the attacker modified transaction procedures undetected by changing contracts and capturing signatures from keyholders. These signatures were used to create unauthorized transfers, sparking debates on security measures and transaction verifications at WazirX. The exchange is now awaiting a detailed report from its security partner for further insights.
