The Graph Foundation Announces $2.5 Million Bug Bounty Program to Incentivize DeFi DevOps

The Graph Foundation, the world’s leading open source network for crypto economy, has announced a bug bounty program in collaboration with Immunefi. The bug bounty program is aimed to incentivize the development and ethical hacking practices in the cryto world. According to a recent report, DeFi-backed hacking has cost the industry millions of dollars since 2019 ($285 million! or more).

By virtue of its prize volume, this is world’s biggest bug bounty program to be announced for open source devops and crypto hackers.

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What Bounty Hunters have to Do?

The big bounty program has been set up with a single-point focus of mitigating risks associated with DeFi hacks, and Sybil attacks. From stopping thieves online to preventing incorrect query results, The Graph Foundation will work with Immunefi to trace out software anomalies and other associated vulnerabilities targeting The Graph. Once biggest bugs have been identified, the organizers would pay a maximum reward of $2,500,000 ( to be paid in GRT tokens).

The Graph Foundation offers indexing protocols to the open source devops community. It partnered with Immunefi that owns extensive knowledge pool in testing and securing Web3 protocols. Together, the two companies would identify crypto experts and developers to identify vulnerabilities in the existing infrastructure. Immunefi has already helped users save over $1 billion from either getting stolen or misused. In fact, Immunefi also rewards ethical hackers in the process. This has led major crypto players and data management companies like Binance, Chainlink, SushiSwap, PancakeSwap, Compound and Synthetix to trust Immunefi for various bug hunting programs.

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