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- CoinDCX has offered an $11 million bounty to lend a hand get successfully stolen funds
- The bounty will stride to of us who’ll provide “actionable first intelligence”
- CoinDCX lost $44 million to hackers on July 18
Indian crypto replace CoinDCX has announced an $11 million bounty, to now not the hacker, but to anybody who’ll provide “actionable first-intellegence” to lend a hand get successfully stolen funds. CoinDCX said that it’ll provide “up to 25% of any recovered funds” to individuals who’ll imprint, retrieve, and, “more importantly, lend a hand in the identification and conviction” of those inquisitive about the hack. The replace disclosed that it has redesigned fragment of its infrastructure and tightened its safety to cease future exploits.
Retaining “Our Collective Trust”
In conserving with CoinDCX, the bounty program isn’t intended “to stride what modified into lost” but is supposed to give protection to “our collective belief.” It added that the bounty isn’t a cry for lend a hand but a “stand for the future.”
Asserting the @CoinDCX Recovery Bounty Program: As much as 25% of any recovered funds shall be awarded to people or teams who can assist imprint and retrieve the stolen crypto.
Factual to give more context:
-> We want to be upfront. The publicity modified into from our have reserves, and we like… https://t.co/GHHlxf3PxB— Sumit Gupta (CoinDCX) (@smtgpt) July 21, 2025
The replace said that the bounty program is meant to raise the crypto neighborhood together to position a brand new fashioned for “response and recovery.” It necessary that it’ll transparently review all credible leads, alongside with that it’ll submit updates as new traces and patterns emerge.
In a earlier put up, CoinDCX CEO Sumit Gupta revealed that the hack didn’t impact buyer funds because they were drained from an interior pockets historical for “liquidity provisioning” with a partner replace. Gupta additionally disclosed that the loss would be lined by the replace’s company treasury.
A Bounty With a Twist
CoinDCX’s bounty program isn’t the necessary available in the market but has an unpopular twist. Somewhat than reaching out to the hacker and pleading with them to attain the funds for a bounty, the replace wants the hacker’s id revealed.
Within the unique previous, hacked crypto platforms like GMX were the utilization of bounties to entice risk actors to attain funds. Even supposing this attain has been profitable, it’s now not a guarantee that hackers would return funds even when their identities are revealed.
With CoinDCX baying for the hackers id, it’s to be viewed whether the attacker will voluntarily return the loot.