The group-sourced safety audit competitors will reward safety researchers for figuring out vulnerabilities in Ethereum’s code.

The Ethereum Basis and bug bounty platform Immunefi have teamed to launch a safety audit competitors dubbed the “Attackathon” that goals to be “the largest crowdsourced security audit.”

In a weblog put up on July 8, the Ethereum Basis mentioned the four-week occasion could be open to builders and tasks, who’re invited to take part in a time-bound audit to seek for vulnernabilties within the protocol’s code.

The Ethereum Basis has seeded the reward pool with an preliminary $500,000, however has a purpose of elevating greater than $2 million from contributors till August 1, when the ultimate pool will likely be locked. 

The sponsored pool will deposit instantly into the Attackathon vault on Immunefi, which has been designed to transparently show the allocation of a program’s funds and streamline the cost course of between tasks and safety researcher

Ethereum’s Protocol Safety Analysis Lead Fredrik Svantes commented that the group was “excited to launch the first audit competition targeting the protocol itself” as a part of their efforts to additional safe the protocol.

“Top performing whitehats will have their skills recognized in front of the entire Ethereum community,” mentioned Immunefi on X. 

The hackathon is the second to be introduced by Immunefi this week – the platform is facilitating a $1 million bug bounty reward pool for builders that determine bugs in a brand new Solana validator shopper constructed by Leap Crypto.

The biggest bug bounty on document was a $15 million reward pool from LayerZero final Might. The cross-chain messaging protocol additionally partnered with Immunefi to set it up, with vital vulnerability payouts incomes builders a minimal of $250,000 and a most of $15 million for locating bugs in “Group 1” chains like Ethereum and Avalanche.

Thus far, Immunefi claims to have paid out greater than $100 million in bounties and averted $25 billion in hack harm.