Cross-chain messaging protocol LayerZero and safety platform Immunefi have teamed as much as launch a $15 million bug bounty program.
This system gives a most reward of $15 million for anybody figuring out a vulnerability on the highest severity degree. In keeping with its phrases and circumstances, rewards are based mostly on the Immunefi Vulnerability Severity Classification System and paid in keeping with vulnerability affect.
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 software vulnerabilities and bugs.
To be thought of for a reward, bug stories should embody a proof-of-concept (PoC) demonstrating an finish impact on property in scope. Explanations and statements will not be accepted as PoC and code is required, in keeping with the eligibility standards.
Important good contract vulnerabilities reported on Ethereum, BNB Chain, Avalanche, Polygon, Arbitrum, Optimism and Fantom pay the upper of $250,000 or 10% of the property’ worth in danger on the time of reporting. The payout for important vulnerabilities begins at $25,000 for all different chains. Non-critical rewards are based mostly on inside standards.
Bounty hunters are additionally required to adjust to Know Your Buyer requirements, reminiscent of submitting a replica of their passport or authorities ID and proof of handle, in addition to being screened by the USA Workplace of Overseas Property Management.
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 gives a most payout of $250,000 for important bugs. Intel’s bug hunters can earn rewards as much as $100,000, whereas OpenAI gives rewards as much as $20,000 for distinctive discoveries.
Journal: Ought to crypto initiatives ever negotiate with hackers? In all probability
