A user of the recently hacked Indian cryptocurrency exchange WazirX has reported fraudulent emails promising compensation in WZA tokens and directing customers to phishing sites.

A WazirX client shared screenshots of an email from someone claiming to be a representative of the exchange on social media. The email claims that the exchange is ready to offer compensation to users affected by the hack by issuing a new WZA token. The distribution of tokens will depend on the value of assets lost as a result of the hack, and this process will begin in the next 30 days, the authors of the email claim. It also contains a link to a fraudulent website where users are urged to visit to apply for asset reimbursement.

In comments, Indian exchange CoinDCX CEO Sumit Gupta urged cryptocurrency owners to remain vigilant and verify the authenticity of any emails they receive.

Recently, WazirX CEO Nischal Shetty told about the steps the exchange is taking to recover stolen assets following the July 18 hack. Shetty said WazirX has contacted the Financial Intelligence Unit (FIU) and the Computer Emergency Response Team (CERT-In), which are tracking the movement of the stolen funds.

The exchange is also preparing a rewards program that will help freeze and return the stolen assets. We are talking about SHIB tokens for $102 million, ETH for $52.5 million, MATIC for $11.24 million, PEPE for $7.6 million, GALA for $3.59 million and USDT for 5.79 million.

“Our plan of action is to trace the stolen funds, recover customer assets and conduct a deeper analysis of the cyberattack. We are working with law enforcement to identify and apprehend the perpetrators,” wrote Nischal Shetty in H.

Recall that last week, the Rho Markets lending protocol lost USDC and USDT stablecoins worth more than $7.6 million. However, white hat hackers are ready to return the funds if the protocol admits to a configuration error on its part.