LayerZero Launching Bug Bounty Worth Up To $15 Million

Key Points:

• LayerZero and security platform Immunefi have teamed up to launch a $15 million bug bounty program.
• The program offers a maximum reward of $15 million to anyone who identifies a vulnerability of the highest severity.
• To be considered for a reward, bug reports must include a proof of concept (PoC) representing the ultimate impact on the content in scope.

Cross-chain messaging protocol LayerZero and security platform Immunefi have teamed up to launch a bug bounty program worth up to $15 million.

Rewards are based on the Immunefi vulnerability rating system and are paid according to the vulnerability’s impact.

The program offers a maximum reward of $15 million to anyone who identifies a vulnerability of the highest severity. According to its terms and conditions, the reward is based on the Immunefi Vulnerability Severity Classification System and is paid according to the impact of the vulnerability.

Critical smart contract vulnerabilities reported on Ethereum, BNB Chain, Avalanche, Polygon, Arbitrum, Optimism, and Fantom pay a premium of over $250,000 or 10% of the asset value at risk at the time of reporting. Payouts for critical vulnerabilities start at $25,000 for all other chains’ non-critical rewards based on internal criteria.

To be considered for a reward, bug reports must include a proof of concept (PoC) representing the ultimate impact on the content in scope. Explanations and statements are not accepted as PoC, and a code is required according to eligibility criteria.

The $15 million reward makes it the most significant bug bounty program in crypto history, surpassing MakerDAO’s $10 million program.

In early April, LayerZero raised $120 million in a Series B round at a $3 billion valuation. The funding round had the participation of market-leading investment funds such as a16z, Sequoia Capital, Samsung Next, BOND, Circle Ventures, Open Sea Ventures….

According to Immunefi, more than 1,248 reports have been processed since the start of 2020, totaling $65,918,994 in crypto bonuses paid as of December 2022.

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