NEO Blockchain Starts New Vulnerability Bounty Program Offering $10,000 Rewards Per Bug Found

NEO, a blockchain-based platform for creating smart contracts often known as ‘Ethereum of China’, has started a new vulnerability bounty program, providing a channel for security experts to join its ecosystem through a bounty-based reward.

According to a blog published on Medium by NEO, the company said that the program was aimed at finding problems related to the “stability  and security” with design and implementation is within the scope, vulnerabilities with NEO website and related infrastructure on the NEO blockchain is out of the scope.”

NEO also announced the program on its official twitter page, officially declaring that the program had launched, inviting security teams from different sectors to join and help develop the NEO ecosystem. The tweet read as follows:

#NEO Vulnerability Bounty Program Page Officially Launched!!
Security experts and teams from different sectors are welcome to join #NEO Vulnerability Bounty Program(VBP) to develop $NEO ecosystem.💪https://t.co/0xpjo0dxcZ

— Neo Smart Economy (@NEO_Blockchain) September 20, 2018

Rewards Up To $10,000 In NEO

NEO also announced that it would be offering lucrative rewards to those who will help identify any bugs, with those who are lucky to find critical issues to walk away with up to $10,000 in NEO, with the low severity issues cap out being $500 in NEO.

NEO also put it out clearly that the rewards will be solely be based OWASP risk rating methodology, considering the risk of assessment. The four severity levels include critical, high, medium and low.

The announcement by NEO comes a week following the launch of a creative design competition by NEO, which incentivized designers with a total of $30,000 in rewards to revamp the icon and website of the project.

These kinds of competitions appear to be part of NEO’s push towards the anticipated launch of NEO 3.0, an upgrade expected to address some of the important technical areas in order to support the NEO platform at scale. The company intends to have a platform that’s free of bugs and secure enough to win the trust of its users.