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Say what you want to about crypto, the bug bounty payments are enormous: From the https://immunefi.com/leaderboard/ https://immunefi.com/leaderboard/ #1. 4 pa
by danielvf 4y ago
Say what you want to about crypto, the bug bounty payments are enormous:
From the https://immunefi.com/leaderboard/ https://immunefi.com/leaderboard/
#1. 4 paid reports: $13,010,000 total earnings
#2. 2 paid reports: $10,020,000 total earnings
#3. 8 paid reports: $8,010,000 total earnings
- rideontime 4y agoCrypto bug bounties are high because the alternative is https://web3isgoinggreat.com/?theme=hack https://web3isgoinggreat.com/?theme=hack
- danielvf 4y agoOr for an even more funny take, see https://rekt.news https://rekt.news
- cmcaleer 4y agoBecause massive vulns like this are existential threats for these protocols. If Equifax gets breached for 150m peoples' personal information, they just get a slap on the wrist, pay you $15 (if you're lucky), and continue as a going concern. If these trillion dollar companies messing around with your personal information was an existential threat to their business, they would pay comparably with crypto companies.
- bastawhiz 4y agoIs that dollar amounts or crypto amounts normalized to dollars?
- zaroth 4y agoAs long as the conversion was done at the exchange rate at the time the grant was given, I would say it doesn’t matter. But taking an ancient bounty and multiplying it by an exchange rate from years later would definitely be silly.
- danielvf 4y agoMost large crypto bounty programs are paid in things that are instantly convertible to dollars (mostly USDC, some DAI/USDT or occasionaly ETH). There are a few out there but in general the dollar numbers are real.
- burkaman 4y agoYeah because they don't have their own security teams, 100% of the security budget goes to bounties.
- thih9 4y agoI assume these are paid in crypto too, is it possible to easily exchange this large amount of money to regular currency? Then again, even 10% of that looks enormous.
- r00fus 4y agoYes, moving cash around in fiat currency quickly is a solved problem.
- latchkey 4y ago> is it possible to easily exchange this large amount of money to regular currency? Yes, but you have to go through a KYC process, and of course pay your taxes. (In the US) It also depends on which country you're in. There are a lot of OTC desks if you know where to look.