LayerZero companions with Immunefi to launch $15M bug bounty

1 minute, 31 seconds Read
Spread the love

Cross-chain messaging protocol LayerZero and safety platform Immunefi have teamed as much as launch a $15 million bug bounty program. 

This system provides a most reward of $15 million for anybody figuring out a vulnerability on the highest severity stage. In keeping with its phrases and situations, rewards are based mostly on Immunefi Vulnerability Severity Classification System and paid in line with vulnerability influence. 

LayerZero is an omnichain interoperability protocol that enables builders to work together with contracts throughout blockchains. In bug bounty packages, moral hackers are rewarded for locating and reporting software vulnerabilities and bugs.

To be thought-about for a reward, bug stories should embody a proof-of-concept (PoC) demonstrating an end-effect on assets-in-scope. Explanations and statements aren’t accepted as PoC and code is required, in line with the eligibility standards.

Important good contract vulnerabilities reported on Ethereum, BNB Chain, Avalanche, Polygon, Arbitrum, Optimism and Fantom pay a minimal of $250,000, or 10% of the belongings’ worth in danger on the time of reporting. The payout for crucial vulnerabilities begins at $25,000 for all different chains. Non-critical rewards are based mostly on inside standards.

Bug bounty reward thresholds. Supply: Immunefi

Bounty hunters are additionally required to adjust to Know Your Buyer (KYC) requirements, similar to submitting a replica of their passport or authorities ID and proof of handle, in addition to being screened by the US Workplace of International Belongings Management (OFAC).

In keeping with Immunefi, over 1,248 stories have been processed since its inception in 2020, totaling $65,918,994 in crypto bounties paid as of December 2022.

Different software program firms providing hundreds of {dollars} in bug bounties embody Microsoft, Intel, and OpenAI. Microsoft provides a most payout of $250,000 for crucial bugs. Intel’s bug hunters can earn rewards as much as $100,000, whereas OpenAI provides rewards as much as $20,000 for distinctive discoveries.

Journal: Ought to crypto tasks ever negotiate with hackers? Most likely