White Hat Hacker Snags $2 Million Bounty for Finding a Bug in an Ethereum Project

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A white hat hacker and iOS jailbreak developer, Jay Freeman, was awarded $2 million for finding a critical bug in the Ethereum Layer 2 scaling project Optimism that could have enabled hackers to create as much Ethereum in an Optimism account balance as they wished.

The Optimism team noted that its chain history showed that the bug had not been exploited, except for an accidental activation by a staffer at Ethereum data startup Etherscan, but “no usable excess was generated.” (Tom Mitchellhill / Cointelegraph)

Related: Tech Times, The Block, Crypto Briefing, Saurik.com

MakerDAO announced it would begin offering a maximum of $10 million bounty to white hat hackers and cybersecurity specialists who point out legitimate security threats in its smart contracts.

White-hat hackers stand to gain payouts ranging from $1,000 for low-level vulnerabilities to a maximum of $10 million for critical issues found in Maker’s smart contracts and apps. The payouts will be made in DAI stablecoins. The next l…