Ethereum Foundation Rolls Out ‘Attackathon’ To Bolster Blockchain Security, Plans To Raise Over $2,000,000 in Reward

The Ethereum Foundation (EF) is unveiling a month-long initiative aimed at improving the security of the second-largest blockchain by market capitalization.

According to the Ethereum Protocol Security (EPS) Research Team, the blockchain-focused bug bounty platform Immunefi will host an Ethereum (ETH) protocol “Attackathon” over a four-week period.

An Attackathon is a challenge aimed at auditing the security robustness of a platform by identifying and understanding potential vulnerabilities in the protocol’s code.

Explains the EPS Research Team,

“This four-week event aims to enhance the security of the Ethereum protocol through a large-scale crowdsourced security audit competition. Our goal is to raise over $2 million for the reward pool, [and] the EF has seeded the pool with an initial $500,000.”

Per Ethereum Foundation, the sponsorship program offering entities and individuals the opportunity to contribute to the Attackathon’s reward pool will close on August 1st.

“After the Attackathon, Immunefi will evaluate and compile the findings into an official report. This report will detail the vulnerabilities discovered and highlight the top researchers, celebrating their contributions and expertise.”

Immunefi says that the sponsors will get “NFTs (non-fungible tokens) recognizing their contribution, and their name will be immortalized on our Sponsorship Leaderboard.”

On the potential benefits for the participants, Immunefi says,

“The Attackathon will showcase Immunefi’s elite security researcher community, competing to secure the protocol in a time-boxed audit competition with the potential to earn massive rewards, reputation, and glory. Top-performing whitehats will have their skills recognized in front of the entire Ethereum community.

It will also come packed with a comprehensive education program to upskill and broaden the security researcher community around the Ethereum protocol.”

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Source: https://dailyhodl.com/2024/07/10/ethereum-foundation-rolls-out-attackathon-to-bolster-blockchain-security-plans-to-raise-over-2000000-in-reward/