Uniswap Labs has simply launched the most important bug bounty in crypto historical past, providing as much as $15.5 million to anybody who spots vital flaws in its v4 core contracts.
In keeping with particulars shared on X, The bounty program is split into completely different reward ranges relying on the severity of the bug. The most important reward, as much as $15.5 million, is for locating vital points. Bugs that pose a excessive threat can earn as much as $1 million, whereas medium-risk vulnerabilities will probably be rewarded with $100,000.
To take part, researchers should report any points inside 24 hours and maintain the main points personal till the issue is fastened. Proper now, the bounty solely covers the core Uniswap v4 contracts, although Uniswap plans so as to add peripheral and third-party contracts sooner or later.
This bounty program follows a sequence of safety measures, together with 9 impartial audits and a $2.35 million safety competitors. Regardless of these efforts, the corporate is constant to spend money on defending the platform, which processes billions of {dollars} each day. As DeFi-related hacks stay a priority, Uniswap’s proactive strategy to safety units a robust instance for the trade.
The timing can also be vital, based on theblock’s information, attackers have stolen over $3.6 billion from DeFi initiatives since 2020. In 2022, Uniswap blocked over 250 crypto wallets that had been related to stolen funds or crypto mixer like Twister Cah which was sanctioned this 12 months by the U.S Treasury.
In keeping with Uniswap, “this system contains vulnerabilities and bugs in any deployed Uniswap contract and the primary department of the desired undeployed v4-core contracts. Nonetheless for those who discover a bug in a Uniswap sensible contract exterior of those repositories, the place consumer funds are in danger, the group will contemplate the problem to be in-scope for our bounty as an Different Uniswap Contract Code.”
In the meantime, Immunefi has paid over $100 million to researchers who assist discover bugs in its system this 12 months.
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