Cross-chain messaging protocol LayerZero and security platform Immunefi have announced a collaboration to establish a bug bounty program with a total reward pool of $15 million. The program aims to incentivize ethical hackers to identify and report vulnerabilities, with the highest severity level earning a maximum reward of $15 million. The rewards will be based on the Immunefi Vulnerability Severity Classification System, taking into account the impact of the identified vulnerabilities. LayerZero is an omnichain interoperability protocol that facilitates interaction with smart contracts across different blockchains. In order to qualify for rewards, bug reports must contain a proof-of-concept (PoC) that demonstrates the impact on the relevant assets.
The program sets specific reward thresholds for critical smart contract vulnerabilities on various chains, such as Ethereum, BNB Chain, Avalanche, Polygon, Arbitrum, Optimism, and Fantom. Bounty hunters participating in the program will also need to comply with Know Your Customer (KYC) standards and undergo screening by the United States Office of Foreign Assets Control. Since its establishment in 2020, Immunefi has handled over 1,248 reports, leading to the payout of over $65 million in crypto bounties to date. The collaboration between LayerZero and Immunefi aims to enhance the security and resilience of blockchain ecosystems through the identification and resolution of potential vulnerabilities.