Submit a Bug
12 October 2021
Live since
KYC required
Maximum bounty

Program Overview

Sherlock is a risk management platform designed to provide DeFi protocols with affordable, reliable coverage against smart contract exploits starting from Day 1.

Sherlock coverage is backed by proprietary staking pools that offer some of the highest risk-adjusted returns in DeFi. This is made possible by their team of security and risk experts who evaluate the smart contracts of every protocol, price the coverage and have skin in the game alongside stakers.

For more information about Sherlock, please visit

This bug bounty program is focused on their smart contracts and is focused on preventing:

  • Loss of user funds by profitable theft or profitable freezing
  • Loss of staker funds by profitable theft
  • Profitable dilution of staker funds (infinite minting of lockUSDC or SHERX)
  • Profitable payout exploits
  • DoS or “freezing” attacks

Rewards by Threat Level

Rewards are distributed according to the impact of the vulnerability based on the Immunefi Vulnerability Severity Classification System. This is a simplified 5-level scale, with separate scales for websites/apps and smart contracts/blockchains, encompassing everything from consequence of exploitation to privilege required to likelihood of a successful exploit.

A PoC is required for Critical and High Smart Contract/Blockchain bug reports.

Exploits that result in a material loss of funds for users and is profitable for the hacker are classified as Critical. Anything else that results in a material loss/freezing of user funds that is unprofitable for the hacker is classified as High.

Critical vulnerabilities are further capped at 10% of economic damage, with the main consideration being the funds affected in addition to PR and brand considerations, at the discretion of the team. However, there is a minimum of USD 50 000 for Critical bug reports.

Known issues in their previous audits are considered out-of-scope:

Additionally, the underflow bug described here is also considered out-of-scope:

Payouts are handled by the Sherlock team directly and are denominated in USD. Payouts are done in USDC.

Smart Contracts and Blockchain

Up to USD $500,000
USD $25,000

Assets in Scope

All smart contracts of Sherlock can be found at However, only those in the Assets in Scope table are considered as in-scope of the bug bounty program.

Impacts in Scope

Only the following impacts are accepted within this bug bounty program. All other impacts are not considered as in-scope, even if they affect something in the assets in scope table.

Smart Contracts/Blockchain

  • Loss of user funds by theft or freezing
  • Loss of staker funds by theft
  • Dilution of staker funds (infinite minting of lockUSDC or SHERX)
  • Payout exploits
  • DoS attacks and temporary freezing of funds for at least 10 days

Prioritized Vulnerabilities

We are especially interested in receiving and rewarding vulnerabilities of the following types:

Smart Contracts and Blockchain

  • Re-entrancy
  • Logic errors
    • including user authentication errors
  • Solidity/EVM details not considered
    • including integer over-/under-flow
    • including rounding errors
    • including unhandled exceptions
  • Trusting trust/dependency vulnerabilities
    • including composability vulnerabilities
  • Oracle failure/manipulation
  • Novel governance attacks
  • Economic/financial attacks
    • including flash loan attacks
  • Congestion and scalability
    • including running out of gas
    • including block stuffing
    • including susceptibility to frontrunning
  • Consensus failures
  • Cryptography problems
    • Signature malleability
    • Susceptibility to replay attacks
    • Weak randomness
    • Weak encryption
  • Susceptibility to block timestamp manipulation
  • Missing access controls / unprotected internal or debugging interfaces

Out of Scope & Rules

The following vulnerabilities are excluded from the rewards for this bug bounty program:

  • Attacks that the reporter has already exploited themselves, leading to damage
  • Attacks requiring access to leaked keys/credentials (unless the hacker can prove public access to these leaked keys/credentials)
  • Attacks requiring access to privileged addresses (governance, strategist)

Smart Contracts and Blockchain

  • Incorrect data supplied by third party oracles
    • Not to exclude oracle manipulation/flash loan attacks
  • Basic economic governance attacks (e.g. 51% attack)
  • Lack of liquidity
  • Best practice critiques
  • Sybil attacks

The following activities are prohibited by this bug bounty program:

  • Any testing with mainnet or public testnet contracts; all testing should be done on private testnets
  • Any testing with pricing oracles or third party smart contracts
  • Attempting phishing or other social engineering attacks against our employees and/or customers
  • Any testing with third party systems and applications (e.g. browser extensions) as well as websites (e.g. SSO providers, advertising networks)
  • Any denial of service attacks
  • Automated testing of services that generates significant amounts of traffic
  • Public disclosure of an unpatched vulnerability in an embargoed bounty