{"id":21596,"date":"2025-10-28T10:11:01","date_gmt":"2025-10-28T04:41:01","guid":{"rendered":"https:\/\/coinswitch.co\/building-blocks\/?p=21596"},"modified":"2025-10-28T10:22:26","modified_gmt":"2025-10-28T04:52:26","slug":"coinswitch-cares-update-in-recovery-program","status":"publish","type":"post","link":"https:\/\/coinswitch.co\/building-blocks\/coinswitch-cares-update-in-recovery-program\/","title":{"rendered":"CoinSwitch Cares: Update in recovery program"},"content":{"rendered":"

Early this year, CoinSwitch launched \u2018CoinSwitch Cares,\u2019 a one-of-a-kind \u20b9600-crore recovery program to help users impacted by the alleged WazirX cyberattack of July 2024. The Singapore High Court approved WazirX\u2019s loss restructuring scheme on Oct. 13, 2025, setting the stage for creditors to recover their assets. Accordingly, we are updating our process. To be clear, the rewards remain unchanged, and we will begin the reward payouts once WazirX kicks off the restructuring scheme.<\/span><\/p>\n


\n<\/b>As an additional step, WazirX users will now have to submit actual proof of their holdings to continue receiving rewards.\u00a0\u00a0\u00a0<\/span><\/p>\n

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The CoinSwitch Cares program aims to help users recoup losses and boost the Indian crypto community. Affected users can recover losses, earn rewards, and confidently re-enter the market through this community-focused initiative.<\/span><\/p>\n

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Users can visit the website (<\/span>www.coinswitch.co\/pro\/coinswitch-cares<\/span><\/a>), CoinSwitch mobile app, or PRO website to submit proof of their loss, earn rewards, and take the first step toward financial recovery.\u00a0<\/span><\/p>\n

Let\u2019s Play by the Rules\u00a0<\/span><\/h1>\n

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The program is open to those who have lost money in the alleged cyberattack on WazirX.\u00a0<\/span><\/p>\n


\n<\/span>Users have the option to deposit funds immediately to start earning rewards or wait for WazirX to release their funds and deposit them to CoinSwitch.\u00a0<\/span><\/p>\n

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Users should submit their WazirX Creditor_ID and USD balance through our portal (<\/span>www.coinswitch.co\/pro\/coinswitch-cares<\/span><\/a>), CoinSwitch mobile app, or PRO website.<\/span><\/p>\n

The signup reward is capped at \u20b915,000 per user, and the referral reward is capped at \u20b910,000 per user.<\/span><\/p>\n

This initiative has the potential to offer significant financial relief to over 4 million affected users while rebuilding confidence in the Indian crypto ecosystem.\u00a0<\/span><\/p>\n

 <\/p>\n

Validate on the CoinSwitch Platform<\/span><\/h1>\n


\n<\/span>Here\u2019s a step-by-step guide on how to go about the process.<\/span><\/p>\n

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Step 1: Register on<\/span> CoinSwitch<\/b><\/a>, and Existing users can sign in. Click on the <\/span>CoinSwitch Cares<\/span><\/a> link to determine your potential rewards and recovery.\u00a0<\/span><\/p>\n


\n<\/span>Step 2: To do this, you must submit your WazirX Creditor ID and USD balance details, which can be found in your WazirX account by following the steps below.<\/span><\/p>\n

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Step 3: Open the following link (<\/span>https:\/\/wazirx.com\/funds\/july-18<\/span><\/a>) and login to your WazirX account, if you haven\u2019t previously. Once logged in, a screen like the one below will be visible to you.<\/span><\/p>\n

\"\"<\/p>\n

Step 4: Now, Click on Scheme of Arrangement as seen in the reference shown below.<\/span>
\n<\/span><\/p>\n

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Step 5: Click on 18th July 2024 Portfolio as seen in the screenshot shown below.<\/span>
\n<\/span><\/p>\n

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Step 6: Copy the \u2018Unique Scheme Creditor ID\u2019 from the page by clicking the Copy button and paste the same in the CoinSwitch input box.<\/span><\/p>\n

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Step 7: Note the USD balance value mentioned on the page (as referenced in the screenshot) and enter it in the corresponding input box on the CoinSwitch input box. Make sure you note the USD value and not the INR value.<\/span><\/p>\n

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Step 8: Complete the KYC to start the recovery process if pending.<\/span><\/p>\n

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Step 9: Now you can start earning your signup reward by depositing INR or crypto from anywhere and through referrals. Once WazirX allows withdrawals, transfer those funds to CoinSwitch to maximize your recovery benefits.<\/span><\/p>\n


\n<\/b>
\n<\/b>Rewards and more!<\/span><\/p>\n

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The rewards will be credited to the user\u2019s CoinSwitch account regularly in INR, once WazirX allows withdrawals.<\/span><\/p>\n


\n<\/span>Here\u2019s a glance at what’s on offer for eligible WazirX users:<\/span><\/p>\n

 <\/p>\n