Immunefi, a bounty and security services platform for cryptocurrency, announced today it will support Binance Smart Chain (BSC) to enhance the security posture of projects building on top of BSC.
BSC projects such as PancakeSwap, C.R.E.A.M. Finance, Zapper, ApeSwap, PantherSwap, PancakeBunny, DODO, and others are already using Immunefi for bug bounties.
In DeFi, billions of dollars in user funds are locked up in smart contracts, visible and accessible to anyone. Meanwhile, in 2020, nearly $200 million was lost due to DeFi bugs, exploits, and hacks.
There are many ways to ensure code is safe, from formal verification to security audits; but history proves some bugs will be overlooked. Bounty programs ensure safety by incentivizing security talent to use their skills for good and get paid for locating vulnerabilities left in the code before someone else does.
“No one wants to constantly worry about getting robbed. At Immunefi, we discover and surface potential exploits through bug bounties and comprehensive security services, to eliminate as many attack vectors as possible and safeguard money.”
– Mitchell Amador, Founder & CEO of Immunefi
The Immunefi platform allows security researchers to review code, disclose vulnerabilities, and get paid in the process. Further, ImmuneFi enables companies to secure their projects with leading security talent. Immunefi was the first on the market to introduce a scaling bug bounty standard and has built the largest community of security talent in the crypto space. Since its launch, Immunefi has paid out over $3,000,000 in bounties to whitehat hackers.
BSC: Binance Smart Chain
In less than a year, BSC has become one of the largest blockchains; the smart chain comprises NFTs, lending, gaming, DEXs, and various DeFi projects
“BSC’s growth has attracted a large amount of retail investors which has also brought in malicious players. Due to the decentralized nature of BSC, anyone and everyone can build on top of it. The best we as a community can do is spread security awareness and introduce bounty programs to incentivize the good actors.”
– Julian Tan BSC Project Coordinator