Security News > 2023 > May > LayerZero launches record-breaking $15M crypto bug bounty program
LayerZero Labs has launched a bug bounty on the Immunefi platform that offers a maximum reward of $15 million for critical smart contract and blockchain vulnerabilities, a figure that sets a new record in the crypto space.
Bug bounty programs are initiatives launched by businesses and software developers to reward security researchers for identifying and reporting bugs in their platforms.
LayerZero Labs is the creator of the LayerZero blockchain messaging protocol that enables secure communication across 30 different blockchains.
Through the launch of the largest bug bounty program in history, LayerZero Labs aims to showcase its commitment to security and inspire trust in its communication protocol.
The LayerZero bug bounty program will distribute rewards to security researchers based on the severity level of their findings and the impacted blockchains.
All payouts will be handled directly by LayerZero Labs, done in Fiat USD via wire transfer or USDC, USDT, and BUSD. A proof-of-concept example to demonstrate the practical feasibility of the attack will be required for a submission to be considered valid.