Case study
Five reviews, then the bounty caught a critical
Alchemix, the self-repaying loans protocol, relaunched as V3 in April 2026 after five security reviews, one of them an Immunefi audit competition. In June, a researcher reported a critical bug in one of V3's vault strategies that put user funds at risk of theft. Immunefi's triage escalated it to Alchemix about three hours later, Alchemix confirmed it about two weeks after that, and the researcher was paid the program's top reward of nearly $300,000.
89% of reports to Alchemix were closed by our triage before they reached the team, in the 12 months to October 2026.



