LayerZero Labs Launches $15M Bug Bounty; Largest in the World
Thursday, May 25, 2023
Launched in partnership with Immunefi, bounty to promote Web3 security
VANCOUVER, BC, May 17, 2023 /PRNewswire/ -- LayerZero Labs, the team that launched the leading cross-chain messaging protocol LayerZero, today announced that it has launched a $15 million bug bounty in partnership with Immunefi, the leading bug bounty and security services platform for Web3, protecting over $60 billion in user funds.
The bug bounty will be the largest in the history of the software industry and shows LayerZero's undying commitment to security as well as the developers and users in the LayerZero ecosystem. LayerZero Labs is offering a maximum reward of $15M for each new vulnerability found by participants who uncover vulnerabilities at the highest severity level. With this incentive, LayerZero Labs is setting a new bar for bug bounties across all areas of the software industry.
"With the launch of the largest bug bounty in the world we hope that LayerZero's commitment to Web3 security and the individuals who make the community stronger is clear," commented Bryan Pellegrino, CEO of LayerZero Labs. "We care deeply about building the safest, most used messaging protocol in the world."
"We're thrilled to partner with LayerZero to launch the world's biggest bounty and help ensure the safety of its ecosystem," said Mitchell Amador, Founder and CEO at Immunefi. "We've paved the way to reach the highest security standards in the industry and worked to provide projects with the necessary structure and access to the strongest security talent. LayerZero's bounty is a testament to what we should continue moving towards, and that's an undeniable commitment to security."
Immunefi has facilitated the most significant bug bounties in the software industry, with over $75 million in rewards paid out. It is the largest and most widely adopted bug bounty platform in Web3, where a massive community of leading security talent review projects' blockchain and smart contract code, find and responsibly disclose vulnerabilities, and get paid for making the ecosystem safer.
The terms and conditions of the bug bounty, including eligibility criteria, can be found here: https://immunefi.com/bounty/layerzero/. Vulnerabilities must meet the criteria determined by LayerZero Labs at its sole discretion.
About Immunefi
Immunefi is the leading bug bounty and security services platform for Web3, which features the world's largest bounties. Immunefi guards over $60 billion in user funds across projects like Synthetix, Chainlink, SushiSwap, Polygon, Bancor, MakerDAO, TheGraph, Optimism, and others. The company has paid out the most significant bug bounties in the software industry, amounting to over $75 million, and has pioneered the scaling Web3 bug bounties standard.
For more information, please visit https://immunefi.com
About LayerZero Labs
LayerZero Labs is the team that launched the leading blockchain messaging protocol LayerZero. LayerZero's advanced messaging infrastructure seamlessly connects over 30 blockchains and facilitates transparent and secure cross-chain messaging from one easy-to-use interface. Since going live in March 2022, the LayerZero protocol has processed more than 10 million messages with thousands of mainnet contracts being deployed by thousands of developer teams. Backed by leading venture capital firms including a16z, Sequoia, Binance Labs, Christie's, Lightspeed, Opensea, Bond, Samsung Next, and GBV, LayerZero was recently valued at $3 billion. Developers building on LayerZero can create interoperable, omnichain dApps, which will lead to the establishment of a unified digital asset ecosystem.
For additional information on LayerZero, visit: https://layerzero.network/
LayerZero Labs Media Contact
M Group Strategic Communications (on behalf of LayerZero Labs)
layerzero@mgroupsc.com
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SOURCE LayerZero Labs
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