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Indian crypto exchange CoinSwitch launches $70 million recovery fund for victims of WazirX attack

Indian cryptocurrency exchange CoinSwitch has announced the launch of a $69.90 million WazirX hack recovery fund, "CoinSwitch Cares", aimed at helping WazirX users who lost money due to a cyber attack in July 2024. As part of the scheme, CoinSwitch will distribute funds to impaired users over two years to boost the crypto ecosystem in India. According to official data from CoinSwitch Cares, any user affected by the WazirX security bugs can apply for funding through the scheme.