Wault Finance Goes Live With $100,000 Immunefi Bug Bounty to Increase Security

The bug bounty program will increase Wault Finance’s security while also providing users with incentives.

By
Utulu Hope
on
August 12, 2021
Category:
BSC News

Wault Finance Partners With Immunefi 

Wault Finance, in partnership with Immunefi, has launched a lucrative program for users to earn up to $100,000 while also increasing security.

The program, known as the “Bug Bounty Program'' was launched by the all-in-one platform on Binance Smart Chain (BSC) for users to earn rewards by submitting a bug.

In addition, the partnership with Immunefi will provide security to the BSC-based protocol. The protocol announced the latest innovation on August 11th via Twitter, calling users to participate and earn rewards. 

“Our Professional Bug Bounty Program with Immunefi has begun! Earn up to 100K by submitting a bug. @Immunefi’s network of white hats will now secure our code against future issues!” the tweet read. 
Source

The partnership is a solid response to recent flash loan exploits that saw over $800k stolen from Wault Finance. BSC.News reported the horrible incident on 4th August. Now, Immunefi’s bug bounty program will ensure that Wault Finance does not suffer a repeat of the recent exploit. 


Bug Bounty Program Explained 

The bug bounty program will prevent problems with smart contracts and decentralized application assets on Wault Finance. In addition, the program will provide security against the following, according to Immunefi’s Wault Finance bug Bounty page:

  • Thefts and freezing of principal of any amount 
  • Thefts and freezing of unclaimed yield of any amount
  • Theft of governance funds 
  • Governance activity disruption
  • Website downtime 
  • Access to sensitive pages without authorization 
“All bug reports, both smart contract and web apps, must come with a PoC and a suggestion for a fix in order for consideration of a reward,” the bounty page disclosed. 

According to the threat and vulnerability detection level, rewards will be given out based on Immunefi’s Vulnerability Severity Classification System. 

The system classifies bugs on a simplified 5-level scale: Critical, High, Medium, Low, and None. Those who help will be paid in USDT (BEP20) by the Wault Finance Team. 

The program commenced on 11th August, and every user can submit a bug and earn rewards if they meet the criteria explained in the bug bounty program report

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What is Wault Finance?

Wault Finance is a Decentralized Finance (DeFi) platform that serves as a hub on Binance Smart Chain (BSC). Wault is open-source and focuses on making things as simple and convenient for consumers as possible. The team hopes to create a relaxed and comfortable interface that will make investing as hassle-free as possible. Wault Finance aims to make the benefits of DeFi accessible intuitively, saving investors and new users from the confusing interfaces, high fees, and unknown risks of other projects.

Where to Find Wault Finance: Website | Twitter | Medium | Discord | Telegram |



Tags:
Utulu Hope

UC Hope is a passionate fan of crypto who could weave the latest event into sparks of inspiration and information. He leaves no stone unturned to get to the core of a story. Aside from writing, he spends his hours poring over algorithms and protocols, preparing for a future career as a computer programmer. He hodls mostly in Ethereum, BNB, and, Avax.

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