Ethereum Launches First “Attackathon”: $2 Million Bounty for Crowdsourced Security Audit
Ethereum is set to launch its first hackathon, the “Attackathon,” with a $2 million reward pool.
Ethereum is set to launch its first hackathon, the “Attackathon,” with a $2 million reward pool, aiming to be its codebase’s largest crowdsourced security audit. The four-week event invites security researchers to find the protocol’s code vulnerabilities. Participants must follow specific rules; only significant, rule-compliant reports will be rewarded.
The event begins with a technical walkthrough of Ethereum’s code to prepare participants for identifying potential vulnerabilities. After the event, Immunefi, the bug bounty platform hosting the Attackaton, will compile a report detailing the discovered vulnerabilities.
The Ethereum Protocol Security (EPS) team has already contributed $500,000 to the prize pool and is seeking sponsors to raise an additional $1.5 million by August 1. They also plan to host similar hackathons with every hard fork, including the upcoming “Pectra” hard fork, expected in late 2024 or early 2025. This upgrade will combine the “Prague” and “Electra” updates, introducing significant features like a “social recovery” feature to simplify wallet management.
Hackathons are common in the tech world, including the cryptocurrency space. Other prominent blockchains host similar events to improve security and innovation, often offering bug bounties to incentivize ethical hacking. According to Immunefi, most bounties range from tens to hundreds of thousands of dollars, with the largest reward offered by LayerZero at $15 million.
The Ethereum Attackaton aims to set a new standard for security audits in cryptocurrency by involving the community in a structured and rewarding way. This initiative reflects a broader trend in the crypto industry towards community-driven security measures.
Furthermore, Ethereum’s Attackaton represents a significant step towards enhancing the security and resilience of its protocol, attracting top-tier security researchers and developers. The broader implications for the cryptocurrency space are clear: collaboration and proactive measures are vital for sustaining and advancing blockchain technologies.
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