latest World Crypto News

Search and discover the latest Cryptocurrency updated Stories in Categories

24-7 World Cryptocurrency News about Blockchain, Technology and much more, only from Top Leading Sources

Wormhole announces $10 million bug bounty payout

Crypto bridge Wormhole paid out a massive $10 million to a white hat hacker who disclosed a bug in its core bridge contract on Ethereum in February.
That person goes by the pseudonym satya0x, per an announcement from Immunefi , which partnered with Wormhole in hosting its bug bounty platform.
Wormhole announced the program back in February, shortly after losing close to $323 million in ETH to a hacker , in one of the largest exploits of a DeFi protocol to date. Soon after, it restocked its blockchain bridge , also offering the attacker $10 million if the funds were returned.
Wormhole's program offers bounty rewards in tiers according to how serious the threat is. For instance, a "low" level smart contract bug can earn someone up to $2,500, while a "critical" one can lead to a prize of up to $10 million — the exact amount that satya0x was awarded.
"Wormhole is sending a clear message with this payout to the best, most talented whitehats on the planet that if they responsibly disclose security vulnerabilities to Wormhole, they’ll be well taken care of," Immunefi said.
Immunefi said that no user funds were lost before the bug was reported, as Wormhole was able to quickly respond to it, verifying and fixing the issue on the same day (February 24). 
In a statement shared by the crypto platform, satya0x said that the challenges of blockchain security are an "existential threat" to its future.
"I am proud to have played a role in mitigating a serious vulnerability and a systemic threat to the ecosystem," satya0x said.
The bug was related to Wormhole’s ability to upgrade smart contracts. Essentially, it could potentially allow a hacker to take control of those contracts. In a blog post , Immunefi provided a detailed breakdown of the issue that led to the security vulnerability and how it was fixed.
Satya0x also said: "If we fail to recognize and aggressively reduce systemic risk; if we fail to provide the transparency and tooling needed for users to make informed decisions; if we continue to condemn simple mistakes while praising Total Value Lost as the sole measure of success — we risk enabling the reemergence of the very power structures we seek to destroy." © 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. shares this Contents always with License.

Thank you for Share!



Cool to know huh? Read the full Article

Read the full Article:  ⭲ Wormhole announces $10 million bug bounty payout

Search about Crypto News


The latest Top News, only from Leading exponents of BlockChain, Bitcoin and different Accredited Crypto Currency Sources.

Since 2015, our Mission was to Share, up-to-date, those News and Information we believe to represent in an Ethical and sincere manner the current Crypto Currencies World: everything you are looking for, in one place!

We have always tried to give priority to the News; for this reason we have designed simple and intuitive, usable by all Devices, fast and effective.


Today Most Popular News

SneakPeek Script
Setup, Upload and Go!