When Web3 bug bounty platform Immunefi launched two years ago, CEO and founder Mitchell Amador says the bug bounties weren't great and adoption was slow. But the tides started to turn because even if exploiting a smart contract nets a bigger payday than a bounty, it comes with a huge drawback. "There's a ton of risk when you engage in this, you know, wantonly criminal behavior and steal $200 million from someone else," he said. "There's no way someone's not going to come looking."
For more from Decrypt, visit decrypt.co and follow @gmdecrypt on Twitter.
Be sure to join the gm Telegram room for direct access to our hosts and guests.
Hosts and guests:
Stacy Elliott
Twitter: @stacyannj
Liam Kelly
Twitter: @Liam_Gallas
Mitchell Amador
Twitter: @MitchellAmador
Podcast thumbnail art by Grant Kempster
Hosted on Acast. See acast.com/privacy for more information.
gm: Neal Stephenson Maps Out the Metaverse
Mar 2: Our Interests Are Aligned with the SEC: Brian Armstrong
Mar 1: Nishad Singh Pleads Guilty
Feb 28: SEC Hits Robinhood with a Subpoena
Feb 27: IMF Says Banning Crypto Being Considered
gm: Meet the Brain Behind Avalanche
Feb 24: SBF Charged with Unlawful Political Contributions
Feb 23: Coinbase Launching Layer-2 Network—But No Token
Feb 22: Coinbase Q4 Revenue Beats All Expectations
Feb 21: Former FTX Head of Partnerships Has a New Job
Feb 20: Blockchain.com’s $270 Million Hole
gm: Ryan Wyatt on Polygon’s Winning Streak
Feb 17: Starbucks NFTs Hit $2k, Baron Davis Goes Crypto
Feb 16: The NFT Marketplace War Begins
Feb 15: Millions of Dollars Dropped From the Air
Feb 14: Battle for North America has Begun
Feb 13: The SEC Better Be Ready to Fight
Feb 11: Week in Review: SEC Targets Staking, a16z Doesn’t Get Its Way, NFTs Popping
Feb 10: SEC Cracks Down on Kraken Staking Service
Feb 9: Iconic Local Bitcoins Shutting Down
Create your
podcast in
minutes
It is Free
The emPOWERed Half Hour
NABOR® TALKS
U.S Property Podcast
Aligned Money Show
The Ramsey Show
Planet Money