Immunefi, a Singapore-based bug bounty and security services platform for web3, raised $24m in Series A funding.
The round was led by Framework Ventures with participation from Electric Capital, Polygon Ventures, Samsung Next, P2P Capital, North Island Ventures, Third Prime Ventures, Lattice Capital, and Stratos DeFi.
Led by Mitchell Amador, Founder and CEO, Immunefi is an bug bounty platform in web3 used by Chainlink, Wormhole, MakerDAO, Compound, Synthetix, and more. It boasts a community of whitehat hackers who review projects’ blockchain and smart contract code, find and responsibly disclose vulnerabilities, and get paid for making crypto safer. With Immunefi, whitehat hackers are rewarded based on the severity of the vulnerability that they discover, creating incentives for as many experts as possible to examine the code of particular projects for vulnerabilities.
Since its inception in December 2020, the platform has saved over $25 billion in users’ funds and has paid out $60 million in total bounties. The solution now supports 301 projects across multiple crypto sectors, and collectively offers $136 million in bounties to whitehat hackers.
FinSMEs
28/09/2022