Wednesday, March 20, 2019

43 Bugs Discovered on Blockchain and Cryptocurrency Platforms in the Last 30 Days

Several Blockchain and cryptocurrency companies were sent bug reports for the loopholes that were found on their platform. A team of white hat hackers which discovered 43 of such bugs have received a bounty reward for their effort, according to The Next Web report on March 14.

43 Bugs Discovered on Several Platforms

Per the report, 43 bugs were found on several platforms that are related to the Blockchain and cryptocurrency industry. The discovery was made by a team of white hackers who carried out research between February 13 to March 13. The team has since submitted a vulnerability report to the companies that were affected.

Furthermore, some of the companies that were named are Unikrn, an
Esports gambling platform where 12 bugs were discovered in its disclosure program. Others are Omise and EOS with 6 and 5 bugs flagged on each platform, respectively.

More Blockchain and Crypto Platform Receive Bug Report

While the aforelisted firms received a majority of the report, several others were not left out. These are Tendermint, a Blockchain consensus protocol (4), Augur, a market for predicting events (3), Tezos (3), Monero (2), ICON (2), and MyEtherWallet (2). Coinbase, Crypto.com, Electroneum, and Brave Software, all received one report.

Given that these vulnerabilities were not taken advantage of by the discoverers, they were rewarded for finding them in the first place. The rewards amounted to $23,675 even though it could have been higher since not all reports stated the amount that was awarded to the team.

Bounty Rewards for Discovering Bugs

Alternatively, some of the contributions came from Tendermint which gave the most at $8,500, EOS at $5,500, and Unikrn donated $1,375. While EOS was among those that gave the most, it is worthy to note that is not as high as its previous reward of $120,000 to a security researcher who reportedly, discovered multiple flaws on the platform.

On the other hand, the nature of the errors have not been disclosed and it can only be assumed that the level of threat they posed is low. The latter is as a result of the amount that was awarded by each company when we’ve seen cases where only a single company is willing to donate tens of thousands if not more, for just certain security threats reported.

BTCNN on February 16 also informed that a bug finder on Coinbase had been rewarded $30,000. The U.S. based exchange also has a bounty program running where it rewards people based on the level of security threat they discovered. Of recent, Binance is also doing the same in a bid to enhance the security of its platform.

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