Ethereum is gearing up to launch its first hackathon, known as the “Attackathon,” with a $2 million reward pool. This event aims to conduct the largest crowdsourced security audit of its codebase. Over a period of four weeks, security researchers are invited to participate in finding vulnerabilities in the protocol’s code. To be eligible for rewards, participants must adhere to specific rules and submit substantial, rule-compliant reports.
The Attackathon kicks off with a technical walkthrough of Ethereum’s code, helping participants identify potential vulnerabilities. Following the event, Immunefi, the bug bounty platform hosting the Attackathon, will compile a report detailing the vulnerabilities discovered.
The Ethereum Protocol Security (EPS) team has already contributed $500,000 to the prize pool and is actively seeking sponsors to raise an additional $1.5 million by August 1. They also plan to organize similar hackathons with each hard fork, including the upcoming “Pectra” hard fork scheduled for late 2024 or early 2025. This upgrade will merge the “Prague” and “Electra” updates, introducing new features such as a “social recovery” function to streamline wallet management.
Hackathons are common in the tech industry, including the cryptocurrency sector, as they aim to enhance security and foster innovation. Various prominent blockchains host similar events, offering bug bounties to encourage ethical hacking. According to Immunefi, bounty rewards typically range from tens to hundreds of thousands of dollars, with LayerZero offering the largest reward at $15 million.
The Ethereum Attackathon seeks to establish a new standard for security audits in the cryptocurrency realm by engaging the community in a structured and rewarding manner. This initiative reflects a broader trend in the crypto industry towards community-driven security measures. Moreover, the Attackathon signifies a significant move for Ethereum in bolstering the security and resilience of its protocol, attracting top-tier security researchers and developers. The implications for the cryptocurrency space are clear: collaboration and proactive measures are crucial for the advancement and sustainability of blockchain technologies.