The Reward Platform for Mistakes Defi Immunefi Verhoogt $5,5 Million

Immunefi, a bug bounty system for smart contracts and decentralized financing (Defi) projects, announced a funding of US$5.5 million.

The investors participating in the fundraising were Blueprint Forest, Electric Capital, Framework Ventures, Bitscale Capital, P2P Capital, IDEO Colab, LAO, BR Capital, 3rd Prime Ventures, North Island Ventures and other individual investors.

Theft incidents are a critical problem for businesses in the DeFi world. This year alone, at least 23 different attacks have been carried out, which led to the fact that hackers of the network stole more than $ 1.7 billion.

Immunefi, which helps ensure the security of DeFi projects, provides services to ethical hackers, also known as whitehats, reward programs through which security researchers can view code, identify vulnerabilities, and earn money.

Polygon escapes $850 million hack, pays record $2 million reward
“DEFI is unique in that the vulnerabilities in the code represent the possibility that users will lose their money immediately,” said Mitchell Amador, founder and CEO of Immunefi.

He added that bug bounty programs “have proven to be one of the most effective ways to deal with critical security breaches.”

Last week, Polygon, Ethereum’s scalability solution, issued a record $2 million reward paid through Immunefi, a white-hatted hacker, which exposed a security vulnerability that threatened about $850 million.

In another case, a decentralized smart Binance of chain-based exchange (DeX) finance the Belt, who discovered a critical vulnerability in the protocol more than 10 million capital to risk a whitehat hacker paid $ 1.05 million.

Immunefi is increasing final services
Which projects do Immunefi services choose?

The company notes that it will maintain more than $ 50 billion in funds for users and paid a $ 7.5 million reward for using leading DeCi protocols such as Synthetix, Chainlink, SushiSwap, PancakeSwap, Nexus Mutual, Cream, Finance, 1 Inch, Compound, Bancor, Alchemix and Armorfi to its major customers.

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