Want to cover Immunefi's work as the leading bug bounty platform for Web3 with the world's largest bounties? See below for our story, past coverage, brand assets, and our press contact info.
Launched on December 9, 2020, Immunefi is the premier bug bounty platform focused on Web3 security, including blockchains, NFT projects, smart contracts. We provide bug bounty hosting and consultation services to blockchain and smart contract projects. Bug bounty programs are open invitations to security researchers to discover and disclose potentially vulnerabilities in projects’ smart contracts and applications, thereby protecting projects and their users.
For their good work, security researchers receive a reward based on the severity of the vulnerability, as determined by the project affected. Why have a bug bounty program at all? In 2020 alone, hacks and scams cost the Web3 community over $238m, and bug bounties can prevent those hacks from happening. Bug bounty programs surface vulnerabilities so they can be fixed before they get exploited in malicious hacks that destroy projects and ruin reputations.
- Increase trust among users
- increase trust among developers
- Increase trust among the DeFi community
- Incentivize security researchers to protect the community
- Boost DeFi's reputation
Immunefi is doing for DeFi what companies like PayPal, Stripe, and Shopify have done for online shopping: removing security risk and making high-quality decentralized financial products safe for the average person. We help prevent hacks to make DeFi safe for everyone.
Immunefi’s Origin Story
In early 2020, Mitchell Amador was hiking in the Swiss alps, and while trudging through the snow, he received a notification on his phone that another crypto project had just been hacked. In that brief moment, hackers stole millions of users’ funds. The news of this hack was an emotional hit because he had major investments in smart contracts.
He came to the conclusion that something was deeply wrong with security in DeFi, and there was no one who could help him. He didn’t feel safe about his investments and realized no one else did either.
The talent necessary to solve this problem existed in the community, but there was nothing pulling it all together, and hackers had no incentive themselves to protect projects. There had to be something new to bring everyone together to help make the community safe. And that’s when Immunefi, the bug bounty platform focused on smart contracts, was born.
Since launching, our customers have included smart contract projects like Synthetix, TheGraph, Polygon, yEarn, Nexus Mutual, SushiSwap, Vesper, Bancor, Chainlink, and we are in the process of onboarding many more.
Facts & Figures
- Immunefi has the world's largest bug bounties
- Immunefi is the leading bug bounty platform for DeFi
- To date, Immunefi has paid out of $8,000,000 in bug bounties
- Immunefi has saved over $2 billion in user funds from being hacked
- Immunefi currently protects more than $100 billion dollars in funds
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See our Medium for the latest news from Immunefi.
Our brand assets are available here.
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