- Immunefi is facilitating a $10 million bug bounty for anyone who can catch sufficiently critical bugs in the MakerDAO code
- The stablecoin issuer is using Immunefi to ensure its code is safe from hackers
- Immunefi says it has prevented over $20 billion from being stolen since its inception
Calling all ethical hackers – here’s your chance to be a millionaire ten times over. Bug bounty platform Immunefi is facilitating what it claims is a world record bug bounty in association with stablecoin issuer MakerDAO – up to $10 million for anyone who can find a sufficiently serious bug in the MakerDAO code. The huge bounty, announced yesterday, follows a number of high value ethical hacking rewards facilitated by Immunefi of late, and is an example of how serious MakerDAO is in its desires to make sure that it is as well protected as it can be.
Immunefi Helping DeFi Projects Stay Safe
DeFi bug hunting platform Immunefi was founded in 2020 and has become the platform of choice for blockchain projects to get their code properly tested. Travin Keith, Co-Founder of Immunefi, published a blog post announcing the record bounty where he pointed out that Immunefi has already helped pay out more than $10 million to whitehat hackers who have “responsibly disclosed protocol-destroying vulnerabilities”, claiming that their efforts have saved over $20 billion from being hacked to date across various platforms.
These included a $2.2 million award for the discovery of a critical Polygon breach and a $1 million award for a similarly critical bug in Notional.
MakerDAO Bug Hunters Ready to Step Up
Now, Immunefi is facilitating a world record amount for a bug hunt, with $10 million on offer to anyone who spots a sufficiently serious bug in the MakerDAO code. Given that Maker has over $17.5 billion in other people’s money locked in its various platforms, and the market cap of its DAI stablecoin is almost $10 billion by itself, this is a price well worth paying.
Keith noted that the $10 million bounty isn’t just an increase of $100,0000 or even $1 million over the old record, it’s an increase of $6 million. However, this record may well be broken as the DeFi space continues to attract investment…and hackers.