In Brief:
- Polygon has awarded a $2 million bounty to a white hat hacker for finding vulnerability in the system.
- This is the highest bounty paid in the global world of DeFi.
- The value of the bounty varies from minimum $1000 to maximum based on vulnerability.
After identifying a vulnerability that put about $850 million of capital at risk, Polygon has awarded a $2 million bounty to a white hat hacker.
This is the highest bounty paid in the global world of decentralized finance (DeFi) according to the bug bounty and security services platform Immunefi, which hosted Polygon’s bounty program.
Gerhard Wagner discovered a vulnerability in the Polygon Plasma Bridge on October 5, which could allow an attacker to exit a burn transaction multiple times from the Polygon plasma bridge.
The Polygon Plasma Bridge is a trustless means of transaction communication between the Polygon and Ethereum networks, which allows users to transfer tokens between both chains.
After the white hat hacker submitted the vulnerability, Polygon began fixing the issue within 30 minutes. The bug has been promptly fixed, and no user funds have been lost as a result.
As part of its effort to eliminate potential security flaws, Polygon launched its bounty program on Immunefi in September.
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Polygon’s bounty program invites white hat hackers to discover and report vulnerabilities in its smart contracts and decentralized applications (dApps).
Immunefi’s Vulnerability Severity Classification System, which ranks threats based on how serious they are, will be used to recognize security researchers’ efforts.
A $1,000 bounty can be awarded for low-level threats, up to $2 million for critical vulnerabilities such as Wagner’s.
