Recently cryptocurrency platforms have started rewarding white hat hackers for accepting the challenges given by the cryptocurrency platforms and winning them successfully. Here the platforms evaluate the skills, of the white hat hackers and made the hackers test the security of the platform, its vulnerability and find bugs if any.
As per the new report published by the Next Web, if we consider all the challenges offered to these hackers have helped them to earn $7,400 for their work (collectively) in checking the security flaws. They have made this bounty by winning the challenges put by seven cryptocurrency platforms.
As per the information was given by HackerOne, these projects awarded such huge bounties to the hackers for patching 20 software bugs in the last couple of weeks. The cryptocurrency platforms which were involved in this challenge had big names like Stellar, Monero and Augur, among a few others. A platform like Robinhood, and Omise also rewarded white-hat hackers for their excellent performances.
This time, the crypto platform which had the largest numbers of bugs in the blockchain system was Omise. Omise is the developing company behind OmiseGo crypto coin. As per the data are given by HackerOne, hackers found a total of eight bugs in its system and mentioned so in the vulnerability report.
Augur (a price predicting market which runs on betting activities), had three problems in the system, which cost it $2,850 ( which it gave to hackers). In this huge bounty on a bug with a medium risk cost $2,500 alone.
One known wallet producer and market watcher reviewed three reports which were worth $2,250. One cryptocurrency platform named Monero which gives priority to anonymity paid hackers for fixing two issues, while ICO crypto platform had only one issue so paid for that, but even that issue cost ICO $1,000.
Even Stellar had to pay hackers for solving one issue; however, the company has not disclosed anything about the compensation is made to the white-hat hackers. Even Robinhood did not disclose the compensation it paid for getting two issues solved. Most of the platforms had chosen not to reveal the details for many reasons. Whatever the reason is these challenges are helping to resolve the problems and hackers are getting paid for their skills.