Sonic Labs and Immunefi to offer $2m bug bounty program

  crypto.news 3 h

Sonic Labs, the team behind the Ethereum Virtual Machine (EVM) layer-1 blockchain Sonic, has partnered with Immunefi, a leading bug bounty platform, to launch a $2 million bug bounty program.

In its announcement on X, Sonic Labs said it had partnered with Immunefi to offer a $2 million bug bounty program. The projects’ collaboration comes a few weeks after the Sonic mainnet launch. Several exchanges, including Binance, are supporting the 1:1 Fantom (FTM) to Sonic (S) migration.

According to Sonic Labs, the bug bounties program is key to the security of both the L1 protocol Sonic and the Gateway bridge. The Gateway connects the new layer-1 blockchain to Ethereum (ETH), allowing users to transfer EVM assets such as USDC and Wrapped Ether to the Ethereum network.

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Sonic says its collaboration with Immunefi and other industry players is key to ensuring network security and integrity.

Earlier this month, the Sonic Labs team revealed Sonic’s mainnet launch.

At its launch, the project said that it was working with top industry audit firms, including Open Zeppelin, Quantstamp, and Certora, to ensure its Gateway bridge’s safety. The Immunefi collaboration, which will offer up to $2 million in bounties for security experts to identify vulnerabilities, is one of these efforts.

The platform will release more details about this partnership and the bug bounties in the new year, according to the post on X.

Immunefi, whose bug bounty platform has seen over $110 million paid out to whitehats, currently also offers hunting opportunities for Ethereum, Stacks, and Lombard.

Up to $1.85 million are up for bug bounty hunters, with up to $1.5 million available after the Immunefi and Ethereum Foundation teamed up on the Ethereum protocol Attackathon. Stacks is a layer-2 platform for smart contracts on BTC, while Lombard is a leading Bitcoin liquid staking platform.

Read more: Hacken: Access control exploits account for nearly 80% of all crypto hacks in 2024

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