Immunefi Reports Paying Over $100 Million to Ethical Hackers in 3 Years
immunea leading on-chain crowdsourcing security platform, has paid out over $100 million in bug bounty rewards to security researchers in just three years.
Immunefi protects over $190 billion in user funds for existing projects such as Chainlink, Wormhole, MakerDAO, TheGraph, Synthetix, Polygon, and Optimism., And more. Immunefi has saved over $25 billion in user funds while paying out some of the most significant bug bounties in the software industry. Currently offering over $163 million in bounty rewards. Together with researchers at Immunefi, we discovered vulnerabilities in 80% of projects that were missed in code audits.
“We work tirelessly to protect the on-chain ecosystem, and this achievement is a testament to the effectiveness of our bug bounty program and the dedication of our researcher community,” said Mitchell Amador, founder and CEO of Immunefi. “Their work is essential to preventing significant financial losses in web3, and we will continue to innovate and support the next generation of projects and users.”
Bug Bounty Reward Distribution
Immunefi categorizes bugs across smart contract, blockchain/DLT, website, and application bug report submissions on a simplified four-level scale of severity, high, medium, and low.
Paid Reports by Type
Smart contracts lead the way, accounting for 77.5% of all bounties paid out, with a total of $77,973,118.
Blockchain accounted for 18.6% with $18,756,806.72.
Web & Apps represents 3.8% at $3,849,014.79.
Paid reports by severity
Critical vulnerabilities lead the way, accounting for 87.8% of all bounties paid out, totaling $88,344,273.
High severity represents 7.4%, or $7,446,570.
Medium severity is $3,243,734, representing 3.2%.
Low severity at $997,621.49 (equivalent to 1%)
For informational purposes only, equal to 0.6% of $566,289.23.
Reimagining the Bug Hunting Experience
Immunefi is the first to introduce extended incentives for hackers. This means that rewards increase depending on the severity of the attack and the amount of funds at risk. Immunefi paved the way for a dramatic rebalancing of bug bounties in web3, which quickly became the largest in the entire software industry. The incentives for project utilization in web3 are much greater than in web2 due to the amount of capital locked in smart contracts. Web3 is a much more hostile environment where vulnerabilities in code can result in direct loss of capital. The ecosystem is gone $1.8 billion defeated in 2023 $778 million 2024 YTD. In web3, an effective and stable incentive system for hackers is important.
Thanks to bug bounty scaling standards, Immunefi has built the largest community of security talent in cryptocurrency, with over 45,000 researchers. Immunefi’s ethical hackers and security researchers 10 million dollars For single vulnerability program compensation.
Beyond bug bounty programs
In addition to the bug bounty program, Immunefi provides consultation, bug triage, and program management services for blockchain and smart contract projects. Recently released Immune Pie boost, a time-limited code review program that ensures top-tier participation from elite security researchers. With Boosts, vulnerability reports are displayed in real time as the program runs, unlike traditional audits where projects must wait until the audit is over to assess potential vulnerabilities. Besides, it provides Invitation-only program Powered by Immunefi’s proprietary data-driven security talent matching system that leverages over 30,000 reports, thousands of vulnerabilities, and hundreds of programs to select the best security researchers for a project’s specific programs.
Introduction to Imunepi
immune The largest on-chain crowdsourcing security platform. Immunefi protects over $190 billion in user funds across projects such as Chainlink, Wormhole, MakerDAO, TheGraph, Synthetix, Polygon, and Optimism., Others. The company has paid out over $100 million in some of the most significant bug bounties in the software industry and pioneered the scalable web3 bug bounty standard. For more information, please visit: https://immunefi.com
