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Crypto skeptics probably don't trust crypto firms to pay the "rewards up to $15,000,000" bounties advertised at places like https://immunefi.com/ https://immune

Crypto skeptics probably don't trust crypto firms to pay the "rewards up to $15,000,000" bounties advertised at places like https://immunefi.com/ https://immunefi.com/. Immunefi has a similar payouts table to h1's at https://immunefi.com/bug-bounty/ https://immunefi.com/bug-bounty/ implying people are getting paid, but it could boost credibility by linking to write-ups and findings from researchers if any exist.

cyanydeez 2y ago
Whenevrt i see a crypto disxussion with dollar signs, im forced to ask if thw payment is in actual dollars or dollar equivelents. Aftetall, bitcoin isnt a currency and is more like a stockmarket as when you try to extract large value from it you typically cause its real price to decline.
- nl 2y ago
  Unless they are paying multi-billion dollar bounties in BTC, USDC, USDT or ETH it's not big enough to really move the market.
- modernerd 2y ago
  Payments seem to be in Ethereum, based on the description of the "Immunefi vault platform": > This project utilizes a decentralized vault for their bounty rewards to ensure trust by showing that they have the collateral to cover their bounties. Payments are processed directly on-chain inside the Immunefi webapp. https://immunefi.com/bug-bounty/beanstalk/ https://immunefi.com/bug-bounty/beanstalk/ An interesting side-effect is that you can view payments from the public vault for each project, for example: https://etherscan.io/address/0x66Efac6e6d58D4058CF017E66a0039315a3eb29C?utm_source=immunefi#tokentxns https://etherscan.io/address/0x66Efac6e6d58D4058CF017E66a003... Top payment so far is 3 payments of about 8,500 USD to the same recipient. The maximum claimed achievable payment is 1.1m USD. It does at least imply that they've set aside magic beans to pay researchers, and that someone is being paid from the bean fund, for whatever that's worth.
- bawolff 2y ago
  The real sketch ones is when the payout is in their custom altcoin since if you find a truly show stopper bug, their altcoin might end up going to 0 once you report it.
- yieldcrv 2y ago
  More and more process in USDC the hackernews post a few months ago had someone earn $2,000,000 which was paid instantly in USDC. this is freely redeemable for USD on Circle and Coinbase some other firms pay out in a vesting schedule of their own tokens, so you rely on the exchange rate and liquidity just as with RSUs.
bugtodiffer 2y ago
Nobody should trust these companies to do that. I bet you this was lots of persuasion for them to pay out this bounty. You wouldn't have gotten this bounty if you had this bug.

cyanydeez 2y ago

Whenevrt i see a crypto disxussion with dollar signs, im forced to ask if thw payment is in actual dollars or dollar equivelents. Aftetall, bitcoin isnt a currency and is more like a stockmarket as when you try to extract large value from it you typically cause its real price to decline.

nl 2y ago
Unless they are paying multi-billion dollar bounties in BTC, USDC, USDT or ETH it's not big enough to really move the market.
modernerd 2y ago
Payments seem to be in Ethereum, based on the description of the "Immunefi vault platform": > This project utilizes a decentralized vault for their bounty rewards to ensure trust by showing that they have the collateral to cover their bounties. Payments are processed directly on-chain inside the Immunefi webapp. https://immunefi.com/bug-bounty/beanstalk/ https://immunefi.com/bug-bounty/beanstalk/ An interesting side-effect is that you can view payments from the public vault for each project, for example: https://etherscan.io/address/0x66Efac6e6d58D4058CF017E66a0039315a3eb29C?utm_source=immunefi#tokentxns https://etherscan.io/address/0x66Efac6e6d58D4058CF017E66a003... Top payment so far is 3 payments of about 8,500 USD to the same recipient. The maximum claimed achievable payment is 1.1m USD. It does at least imply that they've set aside magic beans to pay researchers, and that someone is being paid from the bean fund, for whatever that's worth.
bawolff 2y ago
The real sketch ones is when the payout is in their custom altcoin since if you find a truly show stopper bug, their altcoin might end up going to 0 once you report it.
yieldcrv 2y ago
More and more process in USDC the hackernews post a few months ago had someone earn $2,000,000 which was paid instantly in USDC. this is freely redeemable for USD on Circle and Coinbase some other firms pay out in a vesting schedule of their own tokens, so you rely on the exchange rate and liquidity just as with RSUs.

bugtodiffer 2y ago

Nobody should trust these companies to do that. I bet you this was lots of persuasion for them to pay out this bounty. You wouldn't have gotten this bounty if you had this bug.