On April 20th, Aleksander Leonard Larsen, COO of Sky Mavis, shared the details of the first Bug Bounty program to encourage white-hat hackers to join and help advance the security of its products.
This program will cover not only Ronin smart contract errors but also issues related to Sky Mavis website, app, and extensions.
White-hat hackers are required to focus on the vulnerabilities that can be easily exploited such as technical flaws, EVM bugs, economic attacks, scalability flaws, multiple designs of malicious intervention, etc.
Rewards for web and app flaws vary between $50 and $15,000, while the on-chain vulnerability disclosure can be rewarded with a record-breaking bounty of $1,000,000 paid in AXS tokens, unlocked after 6 months.
This is considered Sky Mavis’s first move to strengthen its security network after the Ronin bridge was attacked at the end of March. The hack has made the most damaging cryptocurrency heist in history with up to $622 million USD stolen.
Last week, Sky Mavis conducted a $150 million fundraising with the participation of many large crypto firms such as Binance to recoup monies lost for its investors. At the same time, Axie Infinity also rolled out a new version of its game called Axie Infinity: Origin, with many new improvements in gameplay, graphics, card effects, and additional items.
Meanwhile, after swapping USDC for ETH, Ronin hackers started to launder the ETH via three centralized exchanges. The wallet belonging to the hackers of the Ronin Bridge has also started sending funds to currency mixer services such as Tornado Cash. According to a PeckShield report, the hackers laundered about $42 million worth of funds or 7.5% of the total.
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