Wormhole Awards $10M to White-Hat Hacker in Bounty Program

Wormhole has awarded $10 million to a white-hat hacker who reported a bug in its Ethereum core bridge contract. This is a part of the bounty program introduced in February after shedding $323 million to an exploit.

The bug in query “was an upgradeable proxy implementation self-destruct bug that helped forestall a possible lockup of consumer funds.” 

In the blog post saying the fee, Immunefi defined all the things in regards to the vulnerability and the way it mounted the problem.

Wormhole partnered with Immunefi for the bounty program, which provided rewards primarily based on the potential stage of affect. For instance, a low-level bug will appeal to a $2,500 reward, whereas vital bugs may earn anybody who discovers them up to $10 million. 

Satya0x, an nameless white-hat hacker, found the bug on February 24, and in accordance to the announcement, the workforce instantly mounted the issue. This ensured that Wormhole didn’t lose any consumer funds, not like the final exploit.

According to Immunefi, 

Wormhole is sending a transparent message with this payout to one of the best, most proficient white hats on the planet that in the event that they responsibly disclose safety vulnerabilities to Wormhole, they’ll be properly taken care of.

The announcement additionally shared statements from the hacker, who described blockchain safety as an existential risk. He expressed his delight in serving to to mitigate the consequences of this critical vulnerability to the crypto ecosystem.

“If we fail to acknowledge and aggressively scale back systemic danger; if we fail to present the transparency and tooling wanted for customers to make knowledgeable selections; if we proceed to condemn easy errors whereas praising Total Value Lost as the only measure of success — we danger enabling the reemergence of the very energy buildings we search to destroy,” satya0x added.

Wormhole is a cross-chain protocol that hyperlinks Ethereum and Solana networks. The bridge permits customers to transfer belongings between completely different blockchain networks by wrapping. 

Crypto bridges are fairly weak to exploits. Less than 2 months in the past, hackers exploited the Ronin Bridge to steal over $600 million from Axie Infinity. Wormhole itself was a sufferer of a hack that resulted in the lack of over $300 million.

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