What is Immunefi and how does it work with Wormhole's bug bounty program?

Immunefi is a web3 bug bounty platform that connects projects that need their code checked and secured with whitehat hackers who report vulnerabilities and claim monetary rewards. Immunefi is the leading bug bounty platform for DeFi with the world’s largest bounties, having paid out more than $80 million to whitehats and having more than $156 million in rewards available.

Wormhole is a cross-chain platform that enables messaging, token transfers, and generic smart contracts between different blockchains. Wormhole was hacked in early 2022, resulting in the loss of 120,000 wETH worth about $323 million at the time. After the hack, Wormhole introduced a bug bounty program on Immunefi, offering up to $2.5 million for critical vulnerabilities. Wormhole has already paid several bounties through Immunefi, including a record-breaking $10 million payout to a whitehat hacker who reported a bug in its Ethereum core bridge contract.

Immunefi and Wormhole work together to improve the security and reliability of the cross-chain platform by incentivizing whitehat hackers to find and report bugs before they can be exploited by malicious actors. Immunefi provides the platform, tools, and community for bug bounty hunters, while Wormhole provides the funds, scope, and feedback for bug reports. This collaboration helps Wormhole to prevent further hacks, protect user funds, and restore trust in its protocol.

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