WazirX Bounty Program – Plan and Structure

Namaste Tribe! 🙏

In light of the recent cyber attack on July 18, 2024, resulting in the theft of digital assets worth $230 Million+, WazirX is launching a bounty program to help recover the stolen funds. We invite the community to participate in two bounty initiatives:

1. Track & Freeze Bounty: Help track & freeze the stolen funds.
2. White Hat Recovery Bounty: Assist in the recovery of the stolen funds with 10% of the recovered amount as a reward. We are offering 10% (maximum up to $23 Million, i.e., 10% * $230 Million = $23 Million) as White Hat Bounty to the WazirX hacker in exchange for the return of the funds to the following wallet address:
   
   ERC20 Wallet Address: 0xf381d876ce4807d1e752cf9dcdba695f312611bf

Bounty 1: Track & Freeze the Amount

• Objective: Identify, track, and provide actionable intelligence leading to the freezing of the stolen funds.
• Reward: Rewards of upto $10,000 worth of USDT will be given for actionable intelligence that leads to the freezing of the funds. If the participant is unable to freeze the funds themselves, they should collaborate with WazirX by providing sufficient proof to facilitate the process. If the participant fails to freeze themselves and/or fails to collaborate with WazirX to facilitate the freezing of the funds, then the participant shall not be entitled to any rewards. If funds are not frozen due to provision of non-actionable information then the Participant shall not be entitled to any rewards.

Bounty 2: White Hat Recovery

• Objective: Facilitate the recovery of the stolen funds
• Reward: 10% of the recovered amount as a white hat incentive. This reward will be disbursed only after and subject to the successful receipt of the stolen amount by WazirX. The said rewards shall be payable in USDT or in the form of recovered funds at the sole discretion of WazirX.

Timeframe:

This bounty program will run for a period of three (3) months from the date of this announcement. However, the said time period may be amended, i.e., extended or reduced with or without notice to the participants based on requirements and results.

Terms and Conditions

General Terms

1. The stolen amount shall refer to the amount which was hacked and taken away from the WazirX Wallet 0x27fD43BABfbe83a81d14665b1a6fB8030A60C9b4. 
2. The recovered amount shall refer to the stolen amount that has been traced, frozen, and returned to WazirX. 
3. Eligibility: The bounty program is open to everyone, excluding current and former employees of WazirX and their immediate family members.
4. Submission: All submissions must include detailed information, including addresses, transactions, and methodologies used for tracking and recovery.
5. Confidentiality: Participants must agree to keep their submissions confidential and not disclose any information to third parties.

Specific Terms for Track & Freeze Bounty

1. Evidence Requirement: Submissions must include clear evidence linking the tracked addresses to the stolen funds.
2. Proof of Concept: Participants must provide a proof of concept demonstrating how the funds can be tracked. This should include:

• Detailed transaction trails.
• Analysis of blockchain data.
• Identification of addresses and their associations.

3. Actionable Intelligence: Information provided must be actionable, i.e., result in the freezing of the funds. If you are unable to freeze the funds yourself, collaborate with us by providing enough proof to facilitate the process. However, in case the Participant fails to provide actionable information or fails to collaborate with WazirX to freeze the funds, it shall not be entitled to any rewards. 
4. Verification: WazirX will verify the information before disbursing the reward. Partial or incomplete information will not be eligible for rewards.WazirX reserves the exclusive right and discretion to assess the completeness of the information.

Specific Terms for White Hat Recovery Bounty

1. Recovery Method: Participants must use legal and ethical methods to facilitate the recovery of funds.
2. Proof of Concept: A detailed proof of concept must be provided, demonstrating:

• The methodology for recovering the funds.
• Steps taken to ensure the recovery is legal and ethical.

3. Recovery Proof: Clear and verifiable proof of fund recovery must be provided to claim the bounty.
4. Percentage Calculation: The 10% reward will be calculated based on the total amount of funds recovered and returned to WazirX.

How to Participate

• Register: Email [email protected] with your intent to participate, including your contact details.
• Submit: Submit the information using the same email address provided during registration at [email protected]
• Review: WazirX’s security team will review all submissions and determine the eligibility and reward amount.

Disclaimer

• WazirX reserves the right to amend the terms and conditions of the bounty program at any time.
• Rewards are subject to verification and compliance with legal requirements.
• Participation in the bounty program does not constitute an employment relationship with WazirX.
• WazirX shall, on best effort basis, endeavor to facilitate cooperation, if required, between law enforcement agencies and successful participant(s) who produce relevant and material documented proof evidencing the tracing of the stolen funds.
• The process for resolving disputes, possibly involving an independent panel of blockchain and security experts.
• The reward is based on a first come first serve basis. The rewards shall be payable in USDT or in the form of recovered funds at the sole discretion of WazirX.
• All submissions will be reviewed within 72 hours of receipt. However, please note that the review time may increase if the volume of submissions goes up.
• Rewards will be paid within a time frame of 60-90 days following the freezing and recovery of the stolen funds. However, the said time frame may be amended with or without notice to the participants based on the process and timeline of recovery. 
• Participants will be notified via email about the status of their submission and any rewards granted.
• Liability Waiver that limits WazirX’s liability for any actions taken by participants in pursuit of the bounty. By virtue of participating in this Bounty Program, the Participant hereby completely waives of any claim or right to claim or right to action against WazirX including its officer(s), director(s), employee(s), contractor(s), representative(s) from any responsibility or liability whatsoever concerning or in relation to or arising out of this bounty program including but not limited to payment of rewards. 

Disclaimer: Cryptocurrency is not a legal tender and is currently unregulated. Kindly ensure that you undertake sufficient risk assessment when trading cryptocurrencies as they are often subject to high price volatility. The information provided in this section doesn't represent any investment advice or WazirX's official position. WazirX reserves the right in its sole discretion to amend or change this blog post at any time and for any reasons without prior notice.