Circle and Tether bug bounties aren’t enough says LlamaRisk
Multi-billion dollar stablecoin giants Circle and Tether are being grilled by a DeFi risk management firm over their allegedly “inadequate” bug bounty programs that fail to exceed $10,000. LlamaRisk published the report on September 1, which assessed the bug bounty programs for crypto assets listed on Aave’s V3 Protocol. It found that 33 assets, making up $19.7 billion of Aave’s supply, have “adequate” bug bounty programs. Ten assets representing $19.2 billion of Aave’s supply, however, either have no program or are “vastly insufficient.” LlamaRisk says Circle, despite managing $70 billion in assets, has a “vastly insufficient” bug bounty of $5,000. Tether, which manages $160 billion, only offers a bug bounty of $10,000 . Other assets with low bug bounties include BitGo wrapped bitcoin, Gnosis, and Ripple, while Etherfi, Monerium, PayPal, and Agora are flagged as having no active bug bounty program at all. Read more: Hacker could’ve printed unlimited ‘E...