White hat hackers earn thousands for fixing crypto projects

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A report by Hard Fork shows that in “the past seven weeks, white hat hackers earned at least $32,150 by fixing security flaws in popular cryptocurrency and blockchain platforms like TRON, Brave, EOS and Coinbase.”

According to data reviewed by Hard Fork, 15 blockchain-related firms have paid rewards to security researchers between March 28 and May 16, split across 30 publicly released bug reports.

Cointelegraph says: “The rewards for a single discovery can differ depending on how damaging the exploit is. Hard Fork noted that most of the bounties awarded by blockchain-driven firm OmiseGo were around $100; EOS company Block.one and the blockchain startup Aeternity, however, issued $10,000 individual rewards over the course of these two months.”

Tron apparently paid $3,500 to a hacker who found a vulnerability that could have crashed its entire blockchain. The disclosure revealed that an attacker could have filled up the available memory on a computer and performed a Distributed Denial of Service attack on Tron’s network by using malicious code in smart contracts.

Binance, one of the biggest exchanges worldwide, offers up to $10,000 per project for “P1: Critical” fixes, with a maximum reward of $100,000 in Binance Coin (BNB) per user.

As previously reported by Cointelegraph, white hat hackers earned $878,000 in bounties for finding crypto bugs in 2018. Within that sum, major crypto exchange Coinbase reportedly spent $290,381, while Tron paid $76,200.

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