CoinSwitch, an Indian crypto exchange, has launched a Rs 600 crore ($70 million) recovery program for users affected by the WazirX hack. The exchange aims to help users recover losses and gain new customers. The program will distribute funds to affected users in INR or cryptocurrency without a lock-in period. CoinSwitch plans to track claims once WazirX reopens its withdrawal system to ensure fair distribution of funds. The recovery program is self-funded by CoinSwitch and targets around 4 million WazirX users. Eligible users can receive upfront rewards and referral bonuses. WazirX also held a committee meeting to discuss its business initiatives and the distribution of funds. Another Indian crypto exchange, CoinDCX, has expressed openness to absorbing WazirX users.



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