CoinSwitch has launched a ₹600 crore ($70 million) recovery fund to support users impacted by the July 2024 WazirX cyberattack, which caused $234.9 million in losses. Co-founder Ashish Singhal stated the initiative aims to rebuild trust in the crypto ecosystem by offering financial relief. The program, funded from CoinSwitch's reserves, will provide up to 10% of users’ deposited funds upfront, with additional incentives for referrals, distributed over two years. This move highlights CoinSwitch's commitment to restoring credibility in the cryptocurrency industry and supporting affected users, emphasizing the importance of safeguarding the broader crypto community.