Cryptocurrency 7 minutes ago (Dec 23, 2022 11:00AM ET)

Immunefi says it has facilitated $66M in bug bounties since inception

According to a new report released on Dec. 21, blockchain security firm Immunefi said that it has processed more than $65,918,994 crypto bounties paid to ethical hackers over 1,248 reports since its inception on Dec. 9, 2020. Web 3.0 projects list bounty programs on ImmuneFi to encourage whitehat hackers to report vulnerabilities and claim monetary rewards, which the company then facilitates.

The payouts appear to be concentrated in nature, with bounty programs operated by Wormhole, Aurora, Polygon, Optimism and Armor accounting for $30.2 million worth of rewards in the past year. The median payout was $2,000, and the average payout was $52,800. A small number of critical vulnerability bug reports received the highest rewards.

The Wormhole vulnerability discovery resulted in a $10 million bug bounty payout. Source: Immunefi

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