Uniswap Launches $15.5 Million Bug Bounty Program, Responding to $3.6 Billion Drained in DeFi

Nov 26, 2024, 02:34 PM

Uniswap Labs has launched the largest bug bounty program in history, offering up to $15.5 million for individuals who identify critical vulnerabilities in its v4 core contracts. This initiative is designed to enhance security following significant losses in the decentralized finance (DeFi) sector, which has seen approximately $3.6 billion drained since 2020. The program encourages white-hat hackers to report vulnerabilities within 24 hours of discovery, with submissions directed to the v4 Bug Bounty page on Cantina. The announcement follows the successful completion of initial bug reports, with rewards already distributed to several participants, including $5,000 to AdityaK0010 and $3,000 to ComposableSecurityStarter. Uniswap's move sets a new standard for security in the industry, surpassing the previous record held by LayerZero on the Immunefi platform in 2023.