Singapore, July 08, 2024 (GLOBE NEWSWIRE) — Immunefi, the main onchain crowdsourced safety platform defending over $190 billion in property, introduced the primary Attackathon along with the Ethereum Basis.
The Attackathon represents a first-time collaborative effort, which goals to be the largest-ever crowdsourced safety audit contest carried out to enhance safety for the whole lot of the protocol’s code. The Attackathon contains a time-bound code overview program by Immunefi, making certain top-tier engagement from elite safety researchers. Moreover, it features a complete group schooling program centered on Ethereum-related safety and expertise.
Ethereum is a decentralized, open-source blockchain platform that permits builders to construct and deploy good contracts and decentralized purposes (dApps). Launched in 2015, Ethereum permits for programmable transactions and provides a safe and clear surroundings for numerous purposes past cryptocurrency, fostering innovation throughout finance, gaming, and provide chain administration.
Sponsoring The Reward Pool
Immunefi and the Ethereum Basis invite the Ethereum group—from ecosystem tasks to builders—to sponsor this enhancement of the protocol’s safety by contributing to this system’s reward pool. Distinctive digital memorabilia might be obtainable to reward their participation, together with particular advantages relying on the sponsorship tier.
To kick off the Sponsorship program, the Ethereum Basis has seeded the reward pool with a contribution of $500,000. Beginning in the present day, Immunefi Ethereum group members can go to immunefi.com/sponsor-ethereum-attackathon/ to take part within the sponsorship program, and think about the sponsor leaderboard as it’s up to date.
The sponsored pool will deposit instantly into the Attackathon vault on Immunefi, a proprietary resolution designed to transparently show the allocation of a program’s funds and streamline the cost course of between tasks and safety researchers. The sponsorship program might be closed and the ultimate reward pool locked by 1st August 2024, after which additional particulars of the Attackathon might be introduced.
“As a part of our efforts to assist additional safe the Ethereum Protocol, we’re excited to launch the primary audit competitors focusing on the protocol itself, and might’t wait to see what kinds of vulnerabilities it’ll floor!” said Fredrik Svantes, Protocol Security Research Lead at the Ethereum Foundation.
Immunefi operates the largest web3 security community with over 45,000 researchers. It protects over $190 billion in user funds for established projects like Chainlink, Wormhole, MakerDAO, TheGraph, Synthetix, Polygon, Optimism, and more. Immunefi has paid out the most significant bug bounties in the software industry, amounting to over $100 million while saving over $25 billion in user funds. Currently, Immunefi offers over $161 million in bounty rewards. With Immunefi’s researchers, 80% of projects find vulnerabilities missed by audits.
“Ethereum is fundamentally transforming the world as we know it and will continue to do so, ” said Mitchell Amador, Founder and CEO of Immunefi. “We are incredibly proud to partner with the Ethereum Foundation and do our part to contribute to the vision of an open, more efficient, and decentralized future. By leveraging our collective security expertise and resources, we aim to ensure the integrity and security of the Ethereum network.”
“We’re bringing together the world’s top security community to safeguard one of the most significant blockchain technologies ever created,” said Sajjad Rehman, VP of Revenue at Immunefi. “This commitment will not only bolster the security of the technology itself but also strengthen the trust and confidence of Ethereum’s growing global user base.”
Ethereum Security Education
The Ethereum Foundation’s Attackathon will include a comprehensive educational component, providing dedicated resources such as Ethereum technology and security explainers and a dedicated guide on the Attackathon. These resources aim to enhance accessibility for the broader security researcher community and deepen their engagement within the Ethereum ecosystem.
About Immunefi
Immunefi is the largest crowdsourced security platform for web3. Immunefi guards over $190 billion in user funds across projects like Chainlink, Wormhole, MakerDAO, TheGraph, Synthetix, Polygon, Optimism, and others. The company has paid out the most significant bug bounties in the software industry, amounting to over $100 million, and has pioneered the scaling web3 bug bounties standard. For more information, please visit https://immunefi.com
About Ethereum Foundation
EF is a non-profit and part of a community of organizations and people working to fund protocol development, grow the ecosystem, and advocate for Ethereum. For more information, please visit https://ethereum.foundation/
