Immunefi Launches Timebound Bug Bounty For Proof-of-Assets Vaults System

Starting today for the next three weeks, Immunefi is launching a Timebound Bug Bounty Program for its new, proof-of-assets Vaults System.

This smart contract Vaults System allows projects on Immunefi to:

• Deposit funds in vaults to demonstrate they have funds to pay out bounties
• Send funds to whitehats on-chain via our dashboard

We developed this system as the first milestone in creating the ultimate decentralized bug bounty platform to empower projects and whitehats and provide ironclad trust assurances for the hunting experience.

But before these smart contracts go live, we need your help in securing them. They’ve already undergone two audits, but audits don’t always catch everything. If there’s anyone out there who can find hidden bugs, it’s our own audience.

Primary areas of concern for the Timebound Bug Bounty Program are the permanent modification of information on the application, leakage and loss of client data, and loss of assets in the vaults. We want you to find bugs related to, but not limited to, theft, loss or locking of funds, and unauthorized operations.

The time-bound program lasts for three weeks: November 16 — December 7.

A critical gets you $50,000. Any whitehat who finds a critical or a high also gets a full Immunefi Swag Pack and some big shoutouts.

In the past, when we started posting bug bounties with rewards in the millions of dollars, we received a lot of questions about whether those bounties were real. Hackers are a skeptical bunch. It makes sense.

That skepticism has faded as we’ve published countless bugfix reviews showing huge payouts, confirmed both by projects and the whitehats receiving the payouts.

We have indeed changed the bug bounty game with the highest bounty payouts in the history of the entire software industry.

But we don’t want to stop there. We want to keep building on that success by giving projects the opportunity to demonstrate some amount of proof-of-assets through depositing to a project-specific Vaults System on Immunefi when they launch their bug bounty programs. In the future, whitehats will be able to easily see the vault data for projects on Immunefi that use the Vaults System.

The Vaults System also simplifies the way payouts are made.

In the past, whitehat wallet addresses were attached with bug reports, and projects would pay out manually. Under the Vaults System, projects and whitehats can connect their wallets and conduct the bounty payout entirely on-chain inside the Immunefi dashboard. This payment system has been developed with the help of users and projects in our community and uses smart contracts on the Ethereum mainnet.

This is just the beginning.

With this Vaults System, we’re embarking on a road towards creating the ultimate decentralized bug bounty platform that maybe, just maybe, will take over the web2 bounty world as well. We won’t stop until we cross the finish line. There are many more features and possibilities to come.

We’ve paid out more than $65 million to whitehats and have saved more than $25 billion from being hacked. We’re proud to have ethically created a ton of positive value for everyone.

Start hunting and join us on this journey.