KuCoin has launched a $1 million Bug Bounty Program, the biggest Bounty Reward on HackenProof, for taking security protection to the next level.
The world is changing in astonishing ways. Even more spellbinding is how business owners, experts and leaders across industries have found new ways to create value in their respective sectors. Fintech is one such sector. It has boomed alongside technological advancements, and cryptocurrency in particular has seen a meteoric rise in popularity. As such, people flocked to platforms like KuCoin, a one-of-a-kind global cryptocurrency exchange, offering people over 700 digital assets and currently providing futures trading, spot trading, P2P fiat trading, staking, margin trading and lending to its 27 million users worldwide.
But as with any technology growing at a bristling pace, it’s vital to maintain its security to prevent mishaps. Recently, KuCoin joined hands with HackenProof, a leading cybersecurity consulting company, to launch a $1 million Bug Bounty Program, considered as the biggest bounty reward among crypto exchanges. KuCoin hopes to work with the community through these programs to build a more secure platform. Besides this collaboration, KuCoin also launched a new Security Landing Page to highlight good security practices and provide users with tips and resources for protecting their accounts.
The Bug Bounty Program will reward security researchers for discovering and responsibly disclosing vulnerabilities on the KuCoin platform, protecting its users’ funds and strengthening its security. HackenProof is a trusted cybersecurity consulting company that will help KuCoin review submissions from researchers and determine reward points ranging from $50 to $1,000,000 per bug, with the most critical vulnerabilities earning the highest rewards.
The team at KuCoin and especially Johnny Lyu, the CEO of the platform, is looking forward to collaborating with HackenProof, which will help them tap into the expertise and skills of the cybersecurity research community to discover vulnerabilities before they are exploited. He highlights that the KuCoin Bug Bounty Program is already live.
Last year, the platform launched the Bug Bounty Program on HackenProof with $5,000 per reported bug, the highest reward among crypto exchanges. Dmytro Matviiv, a Product Owner of HackenProof, trusts that KuCoin’s capabilities in the coming years after establishing a new trend in crypto exchange security.
KuCoin, as a global crypto exchange established in 2017, has raised over $150 million in investments in 2022 through its pre-series B funding round and reached $170 million in total in round A. Its total valuation of $10 billion.
To know more, visit its website https://www.kucoin.com