Top Crypto Companies and Blockchain Projects Paid $60,000 to Hackers For Fixing and Finding Bugs

Crypto Companies Are Paying $60,000 Dollars for Hackers to Find Bugs

Three of the most important projects in the crypto world, Coinbase, EOS and Stellar, have rewarded white hat hackers that discovered different security flaws within these cryptocurrency platforms. One of the most important cases has been registered by EOS, which paid over $500,000 in bug bounties.

According to some reports, the number of funds paid in bounties has increased exponentially in the last week. Most of the funds have been paid by Block.one, the company that is behind EOS. Other companies and crypto firms such as Coinbase or Stellar are also rewarding hackers that discover new bugs on their platforms.

Block.one, for example, has paid over $60,000 in bounties in the last week. Each bounty had $10,000 dollars as prize. Six of the bugs found were considered as ‘critical threats.’

In the last months, Block.one spent around $500,000 on its bug-hunting program. EOS mainnet was launched in May and since then several bugs were discovered. This has been the company that paid the most for bounties in such a short period of time.

Coinbase, Stellar and Augur have also paid bounty hunters after finding several bugs. Stellar, for example, has paid an important sum of money to researchers that were able to fix wo important security issues.

Coinbase, the famous crypto wallet and trading platform, paid out six bounties that were worth $4,200 dollars. Augur, instead, paid $500 dollars per bounty.

There are different companies in the crypto world that are offering money for the community to find and repair bugs. In this way, these firms are able to improve their security and strengthen their platforms.

In the future, other crypto startups could start using the same methodology to improve their services and products.