WazirX, a leading cryptocurrency exchange in India, has halted trading in response to a major cyberattack that resulted in a loss of approximately $235 million, making it the second-largest hack of a centralised exchange in recent times. The exchange has initiated a bounty program to incentivize individuals and entities to help recover the stolen assets and is collaborating with over 500 other exchanges to block addresses associated with the theft. WazirX is working with law enforcement, forensic experts, and the broader Web3 community to address the breach, which has disrupted their ability to maintain 1:1 collateral with assets. The exchange has also reported the incident to the Financial Intelligence Unit (FIU) and CERT-In and is actively analysing the impact to formulate a recovery plan.