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 2022 alone, hacks and scams cost the Web3 community $4 billion dollars, 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.
Web3 bug-bounty platform Immunefi raises $24M for its Series A funding round - TechCrunch
Ethical crypto hackers win $52 million in bug bounties via Immunefi in 2022 - The Block
MakerDAO Launches Record $10M Bug Bounty Program On Immunefi - Decrypt
Q1 crypto losses spike 695% on year following massive hacks - TechCrunch
Blockchain bridge Wormhole pays record $10m bug bounty reward - The Daily Swig
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 Web3, and there was no real person or product out there that 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. 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 Web3, was born.
Since launching, our customers have included smart contract projects like Synthetix, TheGraph, Polygon, MakerDAO, 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 and payouts
- Immunefi is the leading bug bounty platform for Web3
- Immunefi has more than 300 projects on its platform
- To date, Immunefi has paid out more than $70,000,000 in bounties to whitehats
- Immunefi has saved over $25 billion in user funds from being hacked
- Immunefi currently protects more than $60 billion dollars in funds
- Immunefi was founded on December 9, 2020, by Mitchell Amador, who also serves as CEO.
See our Medium for the latest news from Immunefi.
Our brand assets are available here.
For all media and interview requests, please contact [email protected]