KardiaChain’s SEA Project Highlight #5: Introducing Immunefi

DISCLAIMER: THIS CONTENT IS FOR INFORMATIONAL PURPOSES ONLY. IT IS NOT A RECOMMENDATION TO PURCHASE ANY ASSETS. ANY PURCHASES MADE IN THE PROJECT MENTIONED ABOVE ARE DONE SO AT YOUR OWN RISK. THIS IS NOT FINANCIAL ADVICE.

Overview: Immunefi

• Immunefi is the leading bug bounty and security services platform for Web3 companies.
• Immunefi connects Web3 projects that need their code checked and secured with white hat hackers who report vulnerabilities and claim monetary rewards.
• Bug bounty programs are open invitations to security researchers to discover and responsibly disclose vulnerabilities in projects’ smart contracts and applications.

Project Team

• Mitchell Amador (CEO, Founder): Mitchell was best known for making Sophia the Robot a worldwide sensation as the CMO of SingularityNET and as the VP of Marketing at Steemit.
• Since its founding, Immunefi has become the leading bug bounty platform for web3 with the world's largest bounties and payouts and now has over 50+ employees around the world. 

Product Offerings

The Whitehat Army

• Immunefi provides a single platform for security hackers and developers to participate in bug bounties and get rewarded for their contributions.
• Talent is scarce and hard to bring together; Immunefi is continuously growing the community of the best Web3 and DeFi security experts in the industry to do an ongoing code review of your project.

Bug Bounty Programs

• Immunefi hosts bug bounties for blockchain projects by providing a platform to bring projects and hackers together
• Whitehat Hackers can report bugs responsibly, and projects can fix those vulnerabilities securely.
• There’s no upfront cost. Projects only pay a 10% performance fee to Immunefi on top of the bug bounty award when hackers find real vulnerabilities.

Secure Dashboard

• The Immunefi Bugs Platform is a secure and convenient way to receive bug reports.
• Receive bug reports in the same place they are reported, and projects can manage all existing reports.
• Multiple team members can be added. Free for all Immunefi clients.

PR and Comms Support

• Immunefi writes highly viewed and shared bugfix reviews for vulnerabilities, reminding the crypto community how much your project takes security and responsibility seriously.
• Immunefi advises on how to communicate about a patched vulnerability.

Partners and Achievements

• Immunefi is trusted by established, multi-billion dollar projects like Polygon, Chainlink, Wormhole, MakerDAO, Compound, Synthetix, and more. Immunefi now supports 302 projects across multiple crypto sectors. 
• Immunefi has facilitated the largest bug bounty payments in the history of software. Immunefi has paid out $60 million in total bounties while saving over $25 billion in user funds
• $10 million for a vulnerability discovered in Wormhole, a generic cross-chain messaging protocol.
• $6 million for a vulnerability discovered in Aurora, a bridge and a scaling solution for Ethereum.
• $2.2 million for a vulnerability discovered in Polygon, a decentralized Ethereum scaling platform that enables developers to build scalable user-friendly dApps.

Summary

The global web3 space was valued at $3 trillion in 2021, and with billions locked across different smart contracts, this capital represents an unparalleled and attractive opportunity for black hat hackers.

Hence working on a solution for this totally make sense; Immunefi is the leading bug bounty platform for Web3 with the world’s largest bug bounties that offer legendary response times and top-notch support for white hat hackers.

DISCLAIMER: THIS CONTENT IS FOR INFORMATIONAL PURPOSES ONLY. IT IS NOT A RECOMMENDATION TO PURCHASE ANY ASSETS. ANY PURCHASES MADE IN THE PROJECT MENTIONED ABOVE ARE DONE SO AT YOUR OWN RISK. THIS IS NOT FINANCIAL ADVICE.

Researched by: Abhinav | KardiaChain