$5M Up for Grabs: Coinbase Launches Bug Bounty for Base Security
$5 million bug bounty program launched by Coinbase, the largest in Web3. Announced July 8 on Cantina, a platform for structured security...
Quick overview
- Coinbase has launched a $5 million bug bounty program to enhance security on its Base Layer 2 network and broader on-chain infrastructure.
- The program invites independent security researchers to report critical vulnerabilities, with rewards based on the impact and severity of submissions.
- This initiative follows a May data breach and reflects Coinbase's commitment to proactive security measures and community collaboration.
- Cantina, the platform managing the bounty, utilizes AI-assisted workflows to streamline the submission and review process for high-impact findings.
$5 million bug bounty program launched by Coinbase, the largest in Web3. Announced July 8 on Cantina, a platform for structured security reviews. Coinbase is inviting independent security researchers to find and report critical vulnerabilities in the Base Layer 2 network and broader on-chain infrastructure.
Each submission will be reviewed by expert triagers, with rewards based on impact and severity. Coinbase is asking for clear, actionable reports to speed up resolution and reduce security risks across the ecosystem.
This is a big deal. Coinbase has been proactive about security. It’s built on prior work with Cantina, which included audits of critical modules like WebAuthn, Verified Pools, and Nitro Validators.
Why Coinbase Cares About On-Chain Security
The new bounty program comes after a May data breach where Coinbase refused to pay ransom to hackers who bribed internal support staff. Instead, they allocated a $20 million fund to catch and prosecute the attackers.
Since then, Coinbase has made several internal changes to harden their systems and reduce attack vectors. With this bounty, they’re expanding their security perimeter to include:
- Base Layer 2 smart contracts
- Coinbase on-chain products
- Broader Ethereum-based infrastructure
And they’re emphasizing community collaboration, a big shift for major Web3 platforms to address security in real time.
Cantina’s Role in Web3 Security
Cantina, the platform powering the Coinbase bounty, is becoming a big player in decentralized security. By combining AI-assisted workflows with manual triage by professionals, Cantina reduces noise from low-quality submissions and focuses on high-impact findings.
Cantina has hosted big bounties before, including Uniswap’s $15.5 million program for version 4 of their protocol. This shows Cantina’s growing trust in the Web3 community and ability to manage high-profile security programs.
Benefits of Cantina-powered bounties:
- Streamlined submission and review process
- Scalable and repeatable auditing frameworks
- Incentives aligned with real-world threat mitigation
With this program, Coinbase is not only hardening their Base network but also committing to long-term secure, transparent blockchain development.
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