Immunefi launches scoring system for Web3's elite white hats

Bug bounty platform Immunefi has launched its Whitehat Leaderboard — a scoring system that showcases the highest 20 most elite white hats in Web3. The rank will measure a given white hat’s expertise and standing amid Immunefi’s safety group, stated the corporate on the Net Summit on Nov 4.

A white hat hacker is somebody who identifies safety vulnerabilities by testing a company’s data expertise safety. In Immunefi’s group, the highest 10 white hats alone have generated over $42 million in complete earnings by disclosing vital vulnerabilities which have led to huge bounty funds within the software program trade.

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Within the leaderboard, white hats will likely be every day categorised by the quantity and severity of paid studies, in addition to complete earnings made. The hackers in Immunefi’s group evaluations tasks’ blockchain and good contract code, disclosing vulnerabilities and being paid for it. The rewards are based mostly on the severity of the vulnerability found.

Mitchell Amador, founder and CEO at Immunefi, famous in an announcement:

“As the quantity of saved funds continues to develop, the leaderboard is one other alternative to present our white hats the popularity they deserve, in addition to to encourage them to maintain pushing the boundaries to make the web3 ecosystem safer.”

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In response to the corporate, white hats who rank on the leaderboard will even be chosen to earn additional rewards, all-expenses-paid journeys, unique merch, and talking alternatives regularly. Created in 2020, Immunefi claimed to have saved over $25 billion in consumer funds and paid out over $62 million in bounties. The platform at the moment helps 300 tasks throughout a number of crypto sectors, serving to the trade gamers save funds saved in good contracts.

Amid the highest bounties paid for white hats up to now two years, Immunefi facilitated fee for the invention of a vital bug within the Wormhole core bridge contract on Ethereum, which led to the record-breaking bug bounty of $10 million for a white hat recognized as satya0x, in addition to the vital infinite spend bug present in Aurora Engine with a $6 million payout for white hat pwning.eth.

Safety vulnerabilities had been among the many challenges within the crypto trade this yr. On Oct. 11, a hacker manipulated the worth of the Mango Markets’s native token, MNGO, to attain larger costs. The attacker took out important loans towards the inflated collateral, draining Mango’s treasury. After a proposal on Mango’s governance discussion board was accepted, the hacker was allowed to maintain $47 million as a “bug bounty,” whereas $67 million was despatched again to the treasury.

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