Immunefi to support bug bounty programs for Binance Smart Chain (BSC) » CryptoNinjas
Immunefi, a bounty and security services platform for cryptocurrency, announced today it will support Binance Smart Chain (BSC) to enhance the security posture of projects building on top of BSC.
BSC projects such as PancakeSwap, C.R.E.A.M. Finance, Zapper, ApeSwap, PantherSwap, PancakeBunny, DODO, and others are already using Immunefi for bug bounties.
Billions of dollars in user funds are locked up in DeFi smart contracts, visible and accessible to anyone. And in 2020, nearly $200 million was lost due to bugs, exploits, and hacks.
There are many ways to ensure code is safe, from formal verification to security audits; but history proves some bugs will be overlooked. Bounty programs ensure safety by incentivizing security talent to use their skills for good and get paid for locating vulnerabilities left in the code before someone else does.
“At Immunefi, we discover and surface potential exploits through bug bounties and comprehensive security services, to eliminate as many attack vectors as possible and safeguard money.”
– Mitchell Amador, Founder & CEO of Immunefi
The Immunefi platform lets security researchers get rewarded to review code and disclose vulnerabilities. Since its launch, Immunefi has paid over $3M in bounties. Further, ImmuneFi enables companies to secure their projects with leading security talent. Immunefi was the first on the market to introduce a scaling bug bounty standard and has built the largest community of security talent in the crypto space.
BSC: Binance Smart Chain
In less than a year, BSC has become one of the largest blockchains; the smart chain comprises NFTs, lending, gaming, DEXs, and various DeFi projects.
“BSC’s growth has attracted a large amount of investors which has also brought in malicious players. Due to the decentralized nature of BSC, anyone and everyone can build on top of it. The best we as a community can do, is spread security awareness and introduce bounty programs to incentivize the good actors.”
– Julian Tan BSC Project Coordinator