Sherlock
Sherlock is a risk management platform designed to provide DeFi protocols with affordable, reliable coverage against smart contract exploits starting from Day 1.
PoC required
Rewards by Threat Level
Rewards are distributed according to the impact of the vulnerability based on the Immunefi Vulnerability Severity Classification System V2.2. 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: https://github.com/sherlock-protocol/sherlock-v2-core/tree/main/audits
Issues identified in previous audit reports may not be eligible for payout
To be eligible for reward, impact from table below must be demonstrated where all thefts must be profitable and all freezing must be reasonably priced for the impact.
Payouts are handled by the Sherlock team directly and are denominated in USD. Payouts are done in USDC.
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 https://sherlock.xyz/about/
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 staking positions)
- Profitable payout exploits
- DoS or “freezing” attacks
KYC not required
No KYC information is required for payout processing.
Prohibited Activities
- Any testing on mainnet or public testnet deployed code; all testing should be done on local-forks of either public testnet or mainnet
- 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 that are executed against project assets
- Automated testing of services that generates significant amounts of traffic
- Public disclosure of an unpatched vulnerability in an embargoed bounty
- Any other actions prohibited by the Immunefi Rules
Feasibility Limitations
The project may be receiving reports that are valid (the bug and attack vector are real) and cite assets and impacts that are in scope, but there may be obstacles or barriers to executing the attack in the real world. In other words, there is a question about how feasible the attack really is. Conversely, there may also be mitigation measures that projects can take to prevent the impact of the bug, which are not feasible or would require unconventional action and hence, should not be used as reasons for downgrading a bug's severity. Therefore, Immunefi has developed a set of feasibility limitation standards which by default states what security researchers, as well as projects, can or cannot cite when reviewing a bug report.