In the aftermath of a significant security breach resulting in a Rs 368 crore loss, CoinDCX, one of India’s leading cryptocurrency exchanges, has announced the launch of the country’s largest crypto recovery bounty program. This initiative aims to incentivize ethical hackers and cybersecurity experts to help track and recover the stolen assets.

The hack exposed vulnerabilities that allowed hackers to siphon off vast sums from CoinDCX’s digital wallets, shaking confidence within the Indian crypto community. In response, CoinDCX has set a substantial bounty, making it the biggest reward offering in India’s crypto sector to recover stolen tokens.

The program not only reflects CoinDCX’s commitment to securing user funds but also highlights the growing challenges faced by crypto platforms in safeguarding assets from increasingly sophisticated cyber threats. This move is expected to encourage collaboration between private security researchers and the exchange to mitigate future risks.

Investors and market watchers are paying close attention to such developments, especially as volatility persists in crypto markets globally. The bounty initiative could set a precedent for other exchanges in India and beyond to adopt similar proactive measures for asset protection and recovery.