White Hat Hacker Recieves $1.5 Million for Bug Notification

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White Hat Hacker Recieves $1.5 Million for Bug Notification

Posted by: Captn Crunchy ()

Date: February 25, 2021 11:59AM

https://www.investing.com/news/cryptocurrency-news/whitehat-hacker-receives-15m-bug-bounty-after-patch-pumps-token-price-2411337

A whitehat hacker has seen what was already one of the largest smart contract-related bug bounties ever awarded more than double, after the ARMOR token price pumped following the announcement of his reward.

On Feb. 3 ArmorFi announced that Alexander Schlindwein of Idea Markets had identified a critical bug in its smart contracts before the insurance brokerage platform went live.

If left unpatched, the bug would have allowed a bad actor with just one dollar of coverage to drain the entirety of funds from ArmorFi’s underwriting contract.

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