LlamaRisk: Circle and Tether's bug bounty programs don't go far enough
Circle and Tether are being questioned by DeFi risk management company LlamaRisk because their bug bounty programs are "seriously inadequate," with the highest amount not exceeding $10,000.
LlamaRisk released a report on September 1, evaluating the bug bounty programs of the assets listed in the Aave V3 protocol. The report found that out of the assets supplied by Aave, bug bounty programs for 33 assets (worth $19.7 billion) were considered "sufficient." However, there were another 10 assets (worth $19.2 billion) that either had no bug bounty program or were seriously inadequate.
LlamaRisk pointed out that despite managing $700 billion in assets, Circle's bug bounty is "seriously inadequate," at only $5,000. And Tether, which manages $1.6 trillion in assets, also has a bug bounty of only $10,000.
Other assets with low bug bounty amounts include BitGo wrapped bitcoin, Gnosis, and Ripple; while Etherfi, Monerium, PayPal, and Agora are marked as having no active bug bounty programs at all.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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