White Hat Hackers Earned $32,000 for Finding Vulnerabilities in Cryptocurrency Systems

White Hat Hackers Earned $32,000 for Finding Vulnerabilities in Cryptocurrency Systems

According to a report published by HardFork on May 20, white hat hackers earned $32,000 during the last two months for finding security flaws in cryptocurrency and Blockchain projects.

As the article says, this $32,000 was distributed by 15 firms from March 28 to May 16. In total, these white hat hackers found 30 public bug reports.

The amount of reward for a single security flaw depends on how damaging the flaw is. According to this report by HardFork, the rewards were mostly distributed by the Blockchain-based firm OmiseGo, and each was around $100. However, companies such as the Blockchain startup Aeternity gave out rewards as high as $10,000 during these two months.

Reportedly, Tron gave out a reward of $3,500 to a hacker who found a serious vulnerability in their system. This system vulnerability could have crashed the entire Blockchain of Tron.

The large crypto exchange Binance has offered rewards up to $10,000 per fixing critical flaws. This reward by Binance can go up to $100,000.

A report published by Cointelegraph showed that in 2018, white hat hackers earned a total of $878,000 in rewards for finding or fixing security flaws in crypto systems. Among the companies that gave out that amount, Coinbase exchange is number one with $290,381.

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