BlockNews
FOLLOW ON X
  • CRYPTO
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • TECHNOLOGY
  • OPINION
No Result
View All Result
BlockNews
  • CRYPTO
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • TECHNOLOGY
  • OPINION
No Result
View All Result
BlockNews
Home BUSINESS

LayerZero Collaborates With Immunefi To Launch A $15 Million Bug Reward To Anyone Who Discovers Vulnerability Of High Severity

by BlockNews Team
May 22, 2023
in BUSINESS, CRYPTO, MEDIA, TECHNOLOGY
Reading Time: 3 mins read
A A
1
SHARES
11
VIEWS
Share on XShare in TelegramShare on Reddit
  • Immunefi will determine the reward based on its Vulnerability Severity Classification System.
  • Ethical hackers are rewarded for discovering and reporting bugs and vulnerabilities in applications.
  • The program is the world’s highest-paid bug bounty reward, as reported smart contract vulnerabilities are awarded $250,000.

The partnership between LayerZero and Immunefi recognizes ethical hackers for their research and discovery of vulnerabilities within applications, websites, blockchains, and smart contracts. It will pay them a maximum fee of $15 million if they meet the terms and conditions laid by Immunefi.

On May 17, the cross-chain messaging protocol—LayerZero—and the popular security platform—Immunefi—both announced the launch of their program. Identified as the world’s most enormous bounty, the $15 million will be given to anyone identifying a vulnerability of the highest severity level.

The rewards will be paid according to the terms and conditions drafted on the Immunefi Vulnerability Severity Classification System, which lists a five-level scale of impacts such as none, low, medium, high, and critical.

Terms and Conditions

According to Immunefi’s official website, all bug reports submitted by bounty hunters must come with a PoC (Proof of Concept) showing an end-effect affecting the assets in consideration for a reward.

“Explanations and statements are not accepted as PoC, and code is required…exceptions may be made in situations where the vulnerability is objectively evident from simply stating the vulnerability and where it exists,” the announcement states.

LayerZero is an omnichain interoperability protocol that enables developers to interact easily with smart contracts across various blockchains.

According to the security platform, smart contract rewards are categorized into two Groups. Group 1 includes Optimism Fantom, Ethereum, Polygon, BNB Chain, Avalanche, and Arbitrum, while Group 2 consists of the other chains. Group 1 rewards paid to ethical hackers are a minimum of $250,000 or 10% of the reported assets. Whereas the reward given to Group 2 for vulnerabilities discovered is $25,000 or 10% of the asset’s value.

Additionally, Immunefi mentioned that all non-critical rewards for big bounties are calculated and distributed based on internal team criteria.

Requirements To Pay Bounty Hunters

For LayerZero to pay the bounty hunters, they must adhere to several requirements. The bounty hunters will comply with the Know-Your-Customer (KYC) standards— the hunters or ethical hackers must provide an invoice including their address, name, payment instructions, and a copy of their passport or any other government identification. They must also provide proof of speech, and lastly, they must pass the OFAC screening.

Payments of the bug bounty will be solely executed by LayerZero Labs and paid in US Dollars.

Unacceptable Reports

Immunefi stressed that it would not accept all bug reports into the program. The words which will not be taken into consideration are the following:

  • Attacks that the hunter has exploited for themselves.
  • Attacks requiring access to leaked data.
  • Attacks requiring access to strict addresses.

Conclusion

Immunefi and LayerZero’s recent partnership offering to pay $15 million will be the most significant amount given to any bounty hunter who discovers a vulnerability of the highest severity.

Tags: Bug BountyBusinessImmunefiLayerZero
TweetShareShare
Previous Post

EU Landmark Crypto Rules Finally Make Exchanges Liable to Loss of Investors’ Funds

Next Post

Turn Your Old Game Boy into a Cold Storage Crypto Wallet

DON'T MISS THESE! HOT OFF THE PRESS

Anime 2.0 Revealed: Studio Azuki and the New Wave of Anime Storytelling
CRYPTO

Anime 2.0 Revealed: Studio Azuki and the New Wave of Anime Storytelling

July 1, 2025
Pi Coin in July 2025: Rebound Brewing or Another Breakdown?
CRYPTO

Pi Coin in July 2025: Rebound Brewing or Another Breakdown?

July 1, 2025
VeChain Struggles to Regain Steam After December Peak
CRYPTO

VeChain Struggles to Regain Steam After December Peak

July 1, 2025
Shiba Inu’s Golden Cross Sparks $110M Whale Surge as Pippen Joins the Party
CRYPTO

Shiba Inu’s Golden Cross Sparks $110M Whale Surge as Pippen Joins the Party

July 1, 2025
Toncoin and Telegram: The Sleeping Giant of 2025?
BITCOIN

Toncoin and Telegram: The Sleeping Giant of 2025?

July 1, 2025
Crypto Supply Shock: Bitwise Predicts Bullish Runs for BTC, But Shows Doubt With ETH and SOL
BITCOIN

Crypto Supply Shock: Bitwise Predicts Bullish Runs for BTC, But Shows Doubt With ETH and SOL

July 1, 2025
Load More

Related News

Anime 2.0 Revealed: Studio Azuki and the New Wave of Anime Storytelling

Anime 2.0 Revealed: Studio Azuki and the New Wave of Anime Storytelling

July 1, 2025
Pi Coin in July 2025: Rebound Brewing or Another Breakdown?

Pi Coin in July 2025: Rebound Brewing or Another Breakdown?

July 1, 2025
VeChain Struggles to Regain Steam After December Peak

VeChain Struggles to Regain Steam After December Peak

July 1, 2025
Shiba Inu’s Golden Cross Sparks $110M Whale Surge as Pippen Joins the Party

Shiba Inu’s Golden Cross Sparks $110M Whale Surge as Pippen Joins the Party

July 1, 2025
Toncoin and Telegram: The Sleeping Giant of 2025?

Toncoin and Telegram: The Sleeping Giant of 2025?

July 1, 2025
Twitter Telegram Threads

BLOCKNEWS.COM

BlockNews

BlockNews.com is your premier source for real-time cryptocurrency, blockchain, and financial market news.

Our mission is to deliver accurate, timely, and insightful information to help both seasoned investors and newcomers navigate the evolving digital economy.

With in-depth analysis, exclusive insights, and up-to-date news, BlockNews.com keeps you informed on the latest trends in crypto, DeFi, NFTs, tech, and beyond.

Stay ahead of the herd with BlockNews.com

RESOURCES

  • About
  • Contact Us
  • Terms and Conditions
  • Privacy Policy

POPULAR TOPICS

$ADA $XRP AI Avalanche Binance Bitcoin Bitcoin ETF blackrock Blockchain BTC Business Cardano Chainlink China Coinbase Coinglass crypto cryptocurrency Crypto Exchange Crypto Regulation DeFi Dogecoin Donald Trump Elon Musk ETF eth ethereum Federal Reserve FTX grayscale Memecoin metaverse Microstrategy NFT NFTs PEPE ripple sec Shiba Inu Solana Stablecoin Technology US Web3 xrp

GET QUICKER UPDATES ON X

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.

No Result
View All Result
  • HOME
  • CRYPTO
  • MEMECOINS
  • TECHNOLOGY
  • POLITICS
  • FINANCE
  • NFT
  • DEFI
  • GUIDES

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.