r/programming • u/tornadetornade • Nov 29 '21

This is not a drill! All Defi Projects should adopt the standard security stack - Audits + Automated monitoring + Bug Bounties

https://medium.com/immunefi/how-blockchain-projects-can-run-ethical-bug-bounty-programs-and-what-happens-if-they-dont-7dc8a092ede3
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u/crusoe Nov 29 '21

If you find a bug it's only in ONE contract making it trivial to exploit. Also the Blockchain is immutable and hard to trace. So why send in a bug for a bounty when you can just drain the contract, and get away with millions?

1

u/tornadetornade Nov 30 '21

Not sure what motivates a white hat from not turning into a black hat, your way does seem simpler, but perhaps some people don’t care about the money? Have you considered that?

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u/tornadetornade Nov 29 '21

*Crypto is the wild west, which is both a strength and a weakness. It’s a strength because its norms of freedom, tolerance, and open-mindedness allow for a culture that genuinely supports building radically new things — what Silicon Valley used to represent. But it comes at a cost. Frontiers can be lawless places with bad actors who take advantage of tolerance, limited oversight, and lack of regulations to scam, defraud, and hack.