Crypto exchange CoinDCX announced a recovery bounty programme on July 21, after it lost $44.2 million worth of assets in a cyber attack over the weekend.
The July 19 hack impacted one of its internal operational accounts used for liquidity provisioning, and user funds were safe, the company had said.
Now, it has promised up to 25 percent of any recovered funds to the “individuals or teams who can help trace and retrieve the stolen crypto, but more importantly assist in the identification and conviction of those involved”.
“These past few days have been tough. One of our operational accounts was targeted in a cyber-attack. But this isn’t just about the stolen assets. It’s about what all of us in Web3 are building together: freedom, transparency and trust.
Hence, we are doing what we believe is the right thing to do – announcing the CoinDCX Recovery Bounty Program with a simple intention: to rally our ecosystem against cybercrime,” the exchange said in a blog post.