Coinbase Enhances Security with $5M Bug Bounty
Coinbase has introduced a $5 million bug bounty program on Cantina. This initiative aims too bolster the security of its on-chain products and the Base layer 2 network. Announced on July 8, its one of the largest in the web3 space.
Researchers can now submit their findings via Cantina’s platform. The platform ensures structured and repeatable reviews.Each submission is evaluated by skilled experts. Rewards depend on the severity of the identified issues. Clear and actionable reports are highly valued for swift resolutions.
This move builds on Coinbase’s previous security efforts. It includes audits of WebAuthn modules, Verified Pools, and Nitro Validators.The new program targets Base’s smart contracts and other on-chain systems. It’s a meaningful step in protecting web3 projects.
Security is a top priority for Coinbase.In May, a data breach involving bribed staff highlighted the need for robust measures. Instead of paying a ransom,Coinbase set up a $20 million fund to catch the culprits. The company is now focusing on open collaboration with the security research community. It also expands protection for Base,the company’s ethereum (ETH) layer 2 network,and complements similar efforts by Optimism (OP) to secure the OP Stack. rnrn
