Ethereum Quadruples Bug Bounties Ahead of The Merge

In a blog post on August 24, Ethereum Foundation stated that from August 24 to September 8, white-hat hackers who discover vulnerabilities related to The Merge will be quadrupled bug bounties. That means any bug that deemed a critical risk will be paid out up to 1 million USD, as opposed to the usual going rate of $250,000. Likewise, high risks, medium risks, and low risks will also receive bug bounties of up to $200,000, $40,000 and $8,000 respectively.

As part of the transition to PoS, Ethereum said the network must be first activated on the Beacon Chain with the Bellatrix upgrade, an event slated to happen on September 6. The Merge is expected to launch on September 15-16. Everything you need to know about The Merge, please visit: Everything About The Merge

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In fact, this is not the first time Ethereum gave rewards for those who have contributed to The Merge. In July 2020, Ethereum Foundation offered a bounty of $5,000 to white hat hackers who could find potential issues in the clients. However, in August 2021, a vulnerability affecting earlier versions of one of Ethereum’s software clients, Geth, caused more than half of the network’s nodes to split from the mainnet.

Besides Ethereum, some projects also offer bug bounties to detect software bugs, thereby preventing attacks that cause huge losses. In April 2022, Sky Mavis provided a bug bounty of 1 million USD after a $600 million hack on the Ronin Bridge. And in June 2022, Ethereum bridging and scaling solution Aurora paid a bounty of $6 million to a white hat hacker who discovered a critical bug.

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