Bitcoin exchange platform Sovryn has recently declared its largest bug bounty program of a whopping $1.25 million.
Bitcoin exchange platform earns massive sales:
After the Bitcoin exchange earned a massive $10 million in bitcoin via their governance tokens in presales.
Governance tokens are tokens that developers create to allow token holders to help shape the future of a protocol.
Sovryn announcing the bug bounty:
The bug bounty has been announced in partnership with Immunefi which is another bug bounty platform for Defi projects and smart contracts.
As disclosed by the Bitcoin exchange Sovryn, White hat hackers will be rewarded the bug bounty for excavating security bugs and vulnerabilities within the Sovryn smart contract.
To the unaware, a smart contract is a digital agreement wherein a software code is retained and then executed across all nodes in the Bitcoin (BSV) Blockchain network. The administrator of the smart contract sets the rules and agreed upon by the involved bodies.
According to the details that have been announced about the bitcoin exchange platform’s bug bounty that white hat programmers will be rewarded to look through the code as well as black hats to detect bugs, rather than exploiting them.
Sovryn’s official bounty page has posted details about the same and has stated that payouts will comply with Immunefi’s vulnerability severity classification system.
Major rewards from the Bitcoin Exchange:
The bug bounty will vary from vulnerability to vulnerability. For smart contract and blockchain vulnerabilities,low-severity will scope from $2,200 to as much as $1 million for high-severity. Sovryn will cap the $1 million bounties at 10% of the capital at risk.
Website and app vulnerabilities have smaller settlements that range from $2,200 for medium-severity vulnerabilities to $22,140 for high-severity ones.
Commenting about the most lucrative bugs and vulnerabilities, the bitcoin exchange platform said that they are especially interested in receiving news about missing access controls, consensus failures, logic errors, susceptibility to blocking timestamp manipulation, remote code execution, clickjacking, and cryptography problems.