GMX awards $one million bounty to Collider investigate crew

Derivatives exchange DEX GMX when awarded a $one million bug bounty to Collider’s investigate division.

GMX awarded $one million to Collider’s investigate crew. Photo: gmx.io

Thanks to the discovery of an error in the mechanism for monitoring unpaid debts, the Collider investigate crew acquired $one million as a bug bounty reward from GMX, The block give informations.

Specifically, the vulnerability induced incorrect token costs to be displayed for liquidity companies on GMX V1. The accident occurred in 2022 but the information have only now been launched. Currently, the undertaking has entirely fixed the vulnerability.

Shlomo Kraus, head of Collider Research, mentioned:

“Our top priority is risk management. We always conduct an extensive due diligence process, evaluating carefully, not only relying on external sources but also on our own audit resources.”

Bug Bounty is a system organized by tasks, corporations or third events, to motivate the local community to detect and report safety vulnerabilities (bugs) in software program or technological innovation items. From there, the bounty organizer will award the reward to the bug finder.

However, GMX is not the initially organization to proactively offer you rewards in this kind. The Ethereum Foundation crew doubled the bug bounty closer to the update date. Shanghai or Mixin a short while ago proposed a $twenty million bug bounty for hackers…

Collider is an Israeli venture capital fund, targeted on infrastructure, middleware and safety in the cryptocurrency sector. While GMX is a decentralized derivatives exchange developed on Arbitrum layer-two. According to webpage updates DefilLamathe DEX at the moment has $473 million in worth locked (TVL) in its good contracts.

GMX TVL statistics as of September 29, 2023. Source: Defi LIama

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