How Polygon Will Seek To Strengthen DeFi With $2 Million Bug Bounty
In the face of an increase in the number of attacks on DeFi platforms, Polygon has decided to take new measures. The Ethereum scaling platform recently announced a $2 million bug bounty. In that way, Polygon expects to “root out and eliminate potential security flaws”, according to a press release. Only a few months ago, the DeFi ecosystem experienced one of its biggest hacks when it lost over $600 million on different platforms. Polygon recorded an $85 million loss at the time. While Ethereum and Binance Smart Chain (BSC) recorded a combined estimate of $500 million in losses. Related....
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With a new security campaign, Cream Finance looks to minimize vulnerabilities. Decentralized lending protocol Cream Finance is backing another major effort to improve the security of decentralized finance.On Tuesday, Cream Finance announced a new security campaign in collaboration with several DeFi platforms like Immunefi, Armor and DeFiSafety to bring stronger security to its protocol and the wider DeFi ecosystem.As part of the campaign, Cream Finance is launching a $1.5 million bug bounty program with blockchain bounty platform Immunefi to strengthen Cream’s protocol, API and website....
As you might have read in our latest article, we’re fierce on safety. As blockchain’s first OS, we need to constantly prioritize the security of our code. That’s why we teamed up with Immunefi, DeFi’s leading bug bounty platform. What exactly is a Bug Bounty? A bug bounty is a financial incentive to independent bug […]
The white hat hacker speculated that the bug might have been created from "using someone else’s code and not having a 100% understanding of what it does." White hat hacker Gerhard Wagner has earned $2 million after reporting a solution to a potentially costly “double-spend” bug on the Polygon network.In an Oct. 21 blog post from Immunefi, a security service that helps facilitate bug reports in decentralized finance projects, Polygon network’s Plasma Bridge was at risk of having $850 million removed by a knowledgeable hacker. According to the project, the vulnerability would have allowed....
Cross-chain protocol Mixin Network has offered the hacker behind the $200 million exploit a $20 million bug bounty reward to return the stolen assets. Mixin Woos Hacker With $20 Million Bug Bounty According to blockchain security firm Peckshield, the bug bounty offer was communicated as an on-chain message, with Mixin urging the bad actor to […]
The Binance Smart Chain has launched a $10 million bug bounty fund for projects building on top of the protocol, called “Priority One.” The initiative aims to keep the blockchain network secure by encouraging bug bounty hunters and ethical hackers. Binance Smart Chain Reveals $10 Million Bug Bounty Fund ‘Priority One’ Security experts and bug bounty hunters now have incentive to help the Binance Smart Chain (BSC) developers secure the network. On Monday, the BSC project revealed “Priority One,” a $10 million fund for projects built on top of the BSC....