Immunefi Launches On-Chain Bug Bounties with ‘Vaults’ System

Blockchain security platform Immunefi has introduced a new on-chain system for bug bounties, as announced on September 26. The system, named “Vaults,” enables Web3 developers to securely hold funds in an on-chain address, which can then be used to reward white hat hackers for identifying vulnerabilities.

Immunefi aims to enhance the credibility of projects by showing white hat hackers that they have set aside adequate funds for bounties. The organization hopes this initiative will lead to a higher number of quality bug reports being submitted.