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January 9, 2025

CoinSwitch Launches $70 Million Fund to Support WazirX Users After Hack

CoinSwitch has stepped up to aid crypto users affected by the July 2024 hack on Indian exchange WazirX. The company announced a generous $70 million fund aimed at helping users recoup some of their lost assets. Following the hack, substantial amounts of over $200 million vanished from customers’ accounts, leaving many in distress. This move by CoinSwitch signifies a positive step toward customer support in the crypto industry, aiming to restore faith among users. As the crypto market continues to evolve, instances like this highlight the need for robust security measures and customer care to protect investors.

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