{"id":21324,"date":"2025-01-07T10:22:28","date_gmt":"2025-01-07T04:52:28","guid":{"rendered":"https:\/\/coinswitch.co\/building-blocks\/?p=21324"},"modified":"2025-01-07T10:26:20","modified_gmt":"2025-01-07T04:56:20","slug":"introducing-coinswitch-cares-a-%e2%82%b9600-crore-program-to-recover-crypto-losses","status":"publish","type":"post","link":"https:\/\/coinswitch.co\/building-blocks\/introducing-coinswitch-cares-a-%e2%82%b9600-crore-program-to-recover-crypto-losses\/","title":{"rendered":"Introducing CoinSwitch Cares, a \u20b9600-crore program to recover crypto losses"},"content":{"rendered":"

Here\u2019s a New Year gift you don\u2019t want to miss! Today, we\u2019re launching \u2018CoinSwitch Cares,\u2019 a \u20b9600-crore recovery program to aid users impacted by the alleged cyberattack on WazirX in July 2024.<\/span><\/p>\n

The program offers affected users an opportunity to recoup losses and give a boost to the Indian crypto ecosystem.
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\nEnroll in the program on the <\/span>CoinSwitch Cares<\/span><\/a> portal to benefit in several ways\u2014recover losses, earn rewards, and get a chance to re-enter the market and take advantage of market momentum!<\/p>\n

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Why launch \u2018CoinSwitch Cares\u2019<\/p>\n

<\/b>Users of crypto exchange WazirX were alarmed by news reports about an alleged cyberattack at the platform in July 2024. The incident led to the theft of digital assets worth over $230 million, according to WazirX. While the issue drags on, the \u2018CoinSwitch Cares<\/b>\u2019 program is our initiative to help out impacted WazirX users.<\/span><\/p>\n

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Who can participate in the program?<\/p>\n

<\/b>The terms of the program are simple and easy to understand. Anyone who has lost money in the alleged cyberattack is eligible to participate in the program to recover the losses.\u00a0 <\/span>Users have the option to deposit funds immediately to CoinSwitch. Further, they can deposit once WazirX releases funds and increase their rewards. <\/span>Simply upload your WazirX statement on our portal for verification and join the reward program.<\/span><\/p>\n

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How it works<\/p>\n

<\/b>CoinSwitch Cares<\/b> aims to provide financial relief to over 4 million affected users and rebuild confidence in the Indian crypto ecosystem. Crypto users in India, who have been affected by the alleged cyberattack, can deposit funds on CoinSwitch and claim rewards.\u00a0<\/span><\/p>\n

Follow four simple steps to begin your recovery journey with <\/span>CoinSwitch Cares<\/b>.<\/span><\/p>\n

Step 1:<\/em> Estimate Your Loss
\n<\/span>Use the calculator and determine your potential rewards and recovery.<\/span><\/p>\n

Step 2:<\/em> Sign Up and Complete KYC
\n<\/span>Register on CoinSwitch and complete the KYC process to activate your account. Existing CoinSwitch users can simply login to start.\u00a0<\/span><\/p>\n

Step 3:<\/em> Deposit from Anywhere
\n<\/span>Start earning your upfront reward by depositing INR or crypto using any supported method.<\/span><\/p>\n

Step 4:<\/em> Deposit from WazirX
\n<\/span>Once WazirX releases funds, transfer those funds to CoinSwitch to maximize your recovery benefits.<\/span><\/p>\n