CoinSwitch launches a recovery fund of approximately $70 million for WazirX hack victims

ChainCatcher news, Indian cryptocurrency exchange CoinSwitch has announced the launch of a ₹6 billion ($69.9 million) WazirX hacker recovery fund.

The company's recovery fund "CoinSwitch Cares" aims to assist WazirX users who suffered financial losses due to the alleged cyber attack in July 2024. As part of the initiative, CoinSwitch will distribute funds to affected users over the next two years, aiming to promote the Indian crypto ecosystem.