Singapore, July 08, 2024 (GLOBE NEWSWIRE) -- Immunefi, the leading onchain crowdsourced security platform protecting over $190 billion in assets, announced the first Attackathon in conjunction with the Ethereum Foundation.
The Attackathon represents a first-time collaborative effort, which aims to be the largest-ever crowdsourced security audit contest conducted to augment security for the entirety of the protocol’s code. The Attackathon features a time-bound code review program by Immunefi, ensuring top-tier engagement from elite security researchers. Additionally, it includes a comprehensive community education program centered on Ethereum-related security and technology.
Ethereum is a decentralized, open-source blockchain platform that enables developers to build and deploy smart contracts and decentralized applications (dApps). Launched in 2015, Ethereum allows for programmable transactions and offers a secure and transparent environment for various applications beyond cryptocurrency, fostering innovation across finance, gaming, and supply chain management.
Sponsoring The Reward Pool
Immunefi and the Ethereum Foundation invite the Ethereum community—from ecosystem projects to developers—to sponsor this enhancement of the protocol’s security by contributing to the program’s reward pool. Unique digital memorabilia will be available to reward their participation, along with specific benefits depending on the sponsorship tier.
To kick off the Sponsorship program, the Ethereum Foundation has seeded the reward pool with a contribution of $500,000. Starting today, Immunefi Ethereum community members can visit immunefi.com/sponsor-ethereum-attackathon/ to participate in the sponsorship program, and view the sponsor leaderboard as it is updated.
The sponsored pool will deposit directly into the Attackathon vault on Immunefi, a proprietary solution designed to transparently display the allocation of a program’s funds and streamline the payment process between projects and security researchers. The sponsorship program will be closed and the final reward pool locked by 1st August 2024, after which further details of the Attackathon will be announced.
“As part of our efforts to help further secure the Ethereum Protocol, we are excited to launch the first audit competition targeting the protocol itself, and can't wait to see what types of vulnerabilities it will surface!" said Fredrik Svantes, Protocol Security Research Lead at the Ethereum Foundation.
Immunefi operates the largest web3 security community with over 45,000 researchers. It protects over $190 billion in user funds for established projects like Chainlink, Wormhole, MakerDAO, TheGraph, Synthetix, Polygon, Optimism, and more. Immunefi has paid out the most significant bug bounties in the software industry, amounting to over $100 million while saving over $25 billion in user funds. Currently, Immunefi offers over $161 million in bounty rewards. With Immunefi’s researchers, 80% of projects find vulnerabilities missed by audits.
“Ethereum is fundamentally transforming the world as we know it and will continue to do so, ” said Mitchell Amador, Founder and CEO of Immunefi. “We are incredibly proud to partner with the Ethereum Foundation and do our part to contribute to the vision of an open, more efficient, and decentralized future. By leveraging our collective security expertise and resources, we aim to ensure the integrity and security of the Ethereum network.”
“We’re bringing together the world’s top security community to safeguard one of the most significant blockchain technologies ever created,” said Sajjad Rehman, VP of Revenue at Immunefi. “This commitment will not only bolster the security of the technology itself but also strengthen the trust and confidence of Ethereum’s growing global user base.”
Ethereum Security Education
The Ethereum Foundation’s Attackathon will include a comprehensive educational component, providing dedicated resources such as Ethereum technology and security explainers and a dedicated guide on the Attackathon. These resources aim to enhance accessibility for the broader security researcher community and deepen their engagement within the Ethereum ecosystem.
About Immunefi
Immunefi is the largest crowdsourced security platform for web3. Immunefi guards over $190 billion in user funds across projects like Chainlink, Wormhole, MakerDAO, TheGraph, Synthetix, Polygon, Optimism, and others. The company has paid out the most significant bug bounties in the software industry, amounting to over $100 million, and has pioneered the scaling web3 bug bounties standard. For more information, please visit https://immunefi.com
About Ethereum Foundation
EF is a non-profit and part of a community of organizations and people working to fund protocol development, grow the ecosystem, and advocate for Ethereum. For more information, please visit https://ethereum.foundation/
