LayerZero companions with Immunefi to launch $15M bug bounty

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

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

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

To be thought of for a reward, bug studies should embrace a proof-of-concept (PoC) demonstrating an finish impact on belongings in scope. Explanations and statements will not be accepted as PoC and code is required, based on the eligibility standards.

Important sensible contract vulnerabilities reported on Ethereum, BNB Chain, Avalanche, Polygon, Arbitrum, Optimism and Fantom pay the upper of $250,000 or 10% of the belongings’ worth in danger on the time of reporting. The payout for vital 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 requirements, equivalent to submitting a replica of their passport or authorities ID and proof of handle, in addition to being screened by the US Workplace of Overseas Property Management.

In keeping with Immunefi, over 1,248 studies 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 embrace Microsoft, Intel and OpenAI. Microsoft presents a most payout of $250,000 for vital bugs. Intel’s bug hunters can earn rewards as much as $100,000, whereas OpenAI presents rewards as much as $20,000 for distinctive discoveries.

Journal: Ought to crypto initiatives ever negotiate with hackers? In all probability

Supply: Coin Telegraph

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