Polygon launches $2M bug bounty amid increasing hacking attacks in space

Polygon network launched a $2 million bounty bug program to tighten security of their platform and ecosystem based projects. 

In the present time the crypto industry is growing more rapidly over the last few years. With the adoption of this industry, people are also adopting potential risks with the new platforms which have potential bugs. A recent hack attack on the VeeFinance can be seen, where hackers stole around $35 million worth of crypto assets.

Read also: Vee Finance Exploited on Avalanche, lost $35M

The Polygon team will pay $1000 minimum to  $2,000,000 for the bugs encountered in the smart contract and blockchain. The amount of the bounty reward will depend upon the potential risk associated with the bug. 

The team will pay $2,500 minimum to  $15,000 maximum, if anyone will report about the bugs associated with Dapp vulnerabilities. 

The reward of the bounty program will be paid out in the form of Ethereum, Matic or in StableCoin. 

Mitchell Amador, Founder & CEO of Immunefi said that they are happy that Polygon is part of their ecosystem, which is ensuring safety through the bug bounty programs to protect the funds locked in the smart contract.

 “Bug bounty programs continue to be an essential part of the security stack for protecting crypto protocols and user funds locked in their contracts. We’re proud Polygon chose us among other platforms to ensure the safety of its protocol, and look forward to our collaboration.”

Sandeep Bailwal, co-founder of Polygon, said that safety of the funds of users is our main priority and we are enhancing it through bounty program

“User security is at the forefront of Polygon’s ethos. This substantial bounty offering aims to solidify what we know to be an extremely secure network.”

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