Poly Network Launches Vulnerability Search Rewards Program – Bits Media

After the recent hack of Poly Network, the project management announced a program to search for bugs in the code and other vulnerabilities in cooperation with Immunefi. The total amount of remuneration will be $500 000.

Poly Network Hacked Last Week, which became the largest in the stories of decentralized finance - the hacker managed to steal tokens on $611 million. Later the cracker said, that he made an attack to identify the vulnerabilities of the project without the intention of assigning money. Gacker gradually began to return stolen tokens, for which he began to call Mrwhitehat. He managed to find a bug in the project system, which allowed the theft.

After what happened, the management of Poly Network published a "road recovery map". The developers brought an apology to the community and said, that they will make every effort to return the stolen crypto acts to users and the resumption of transactions between blockchains after updating the smart contract.

Besides, Developers
announced the launch of the program to search for vulnerabilities. Any organizations can take part in the initiative, Safety security, "White hackers", Developers and all, Who is not indifferent to the safety of Defi projects. The program will be launched 17 August to cooperate with the Immunefi platform. The total remuneration pool will be $ 500,000, $ 100,000 for each serious mistake found.

“Our priority task is to safely restore assets. We hope, that Mrwhitehat will appreciate our security efforts, And users' trust in our network will remain at a high level ", - said the developers of Poly Network.

According to recent Ciphertrace data, This year, Defi protocols lost about $474 Milln due to fraud and hacks excluding the incident with Poly Network. Most problems are due to smart contracts, not passed the audit.