The DeFi project MakerDAO launched on the Immunefi platform a bug bounty program offering up to $10 million for a found critical vulnerability. The reward is the largest ever offered within the service.
MakerDAO & Immunefi Security Core Unit launch LARGEST Bug Bounty for DeFi!@ImmunefiSecCU : Security Core unit for @MakerDAO, who launches their $10M bug bounty program on Immunefi!
Immunefi (@immunefi): leading bug bounty platform for blockchain. https://t.co/BQhNze72JN
— Immunefi (@immunefi) February 10, 2022
MakerDAO divided potential issues into five levels. For a low-severity smart-contract vulnerability a white-hat hacker may earn $1,000. The maximum $10 million is provided for identifying a vulnerability critical to the project.
Bugs in applications and sites interacting with the platform are divided into three levels. The maximum payout here is capped at $100,000.
Payments will be made in the stablecoin DAI.
Immunefi co-founder Travin Keith noted that the maximum reward provided by MakerDAO is equivalent to the total amount of fees paid by the service since its launch.
He also noted that during the platform’s operation the service helped avert potential losses of about $20 billion.
MakerDAO announced the program amid a rise in hacks of DeFi protocols. On February 10, hackers drained from the pools of the Dego Finance project more than $10 million.
On February 8, the QiDAO protocol for issuing a stablecoin on the Polygon network reported a smart-contract breach — as a result, about $13 million was stolen.
Earlier, the infrastructure DeFi company Meter lost about $4.3 million in Bitcoin and Ethereum as a result of the hack.
As reported in early February, the cross-chain Wormhole protocol on Solana was hacked. Attackers drained over $319 million from the project’s pool.
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