Uniswap is offering a bug bounty of $15.5 million for the discovery of v4 core vulnerabilities
In order to address critical vulnerabilities in its v4 core contracts, Uniswap has announced a record-breaking $15.5 million bug bounty.
Uniswap, the world’s largest decentralized exchange (DEX), has declared a $15.5 million bug bounty for vulnerabilities in its v4 upgrade. This establishes a new benchmark for the highest bug bounty ever pledged, surpassing LayerZero’s $15 million reward.
Nevertheless, this bounty is subject to a number of restrictions, and Uniswap will only provide a complete reimbursement for a “critical” vulnerability that does not involve third-party contracts or applications.
Uniswap recently announced a substantial reward for the discovery of code vulnerabilities. The organization is specifically seeking to identify deficiencies in the fundamental capabilities of its substantial v4 upgrade.
In a strict sense, Uniswap’s statement that it is the largest-ever “bug bounty” is somewhat equivocal. In the past, certain platforms have provided substantial rewards to successful hackers as a means of encouraging them to return stolen funds. Mixin Network referred to their $20 million incentive to hackers as a “bug bounty” last year; however, the term was slightly inaccurate.
In this instance, Uniswap exclusively provides compensation for the identification of a vulnerability rather than a ransom for its actual exploitation. Uniswap’s $15.5 million offer is significant in this genre, as Solana only offered $1 million for a comparable program earlier this year. In simpler terms, the organization may regard the establishment of v4 security as essential to the organization’s ongoing prosperity.
Conversely, this substantial offer may originate from a position of assurance. As previously indicated, Uniswap conducted nine independent code examinations and additional $2.35 million security competitions. According to Fortune, Uniswap selected $15.5 million as its bounty in order to surpass LayerZero’s $15 million bounty from the previous year. Therefore, this large award could simply be a brag.
In any case, this substantial recompense is accompanied by significant limitations. Initially, it is impossible for a criminal to claim a vulnerability in any third-party contract or application, including those that are deployed by Uniswap Labs. Secondly, it is unable to identify any unresolved issues that were previously identified in audits. In conclusion, the complete payment is only awarded to a “critical” flaw, while lower-risk bugs receive between $1 million and $100,000.
Also Read: Bitmain says U.S. Customs suspends Antminer ASIC importation
