{"id":171531,"date":"2021-02-05T16:29:54","date_gmt":"2021-02-05T13:29:54","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/whitehat-hacker-receives-1-5m-bug-bounty-after-patch-pumps-token-price\/"},"modified":"2021-02-05T16:29:54","modified_gmt":"2021-02-05T13:29:54","slug":"whitehat-hacker-receives-1-5m-bug-bounty-after-patch-pumps-token-price","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/whitehat-hacker-receives-1-5m-bug-bounty-after-patch-pumps-token-price\/","title":{"rendered":"# Whitehat hacker receives $1.5M bug bounty after patch pumps token price"},"content":{"rendered":"<p>&#8220;<strong># Whitehat hacker receives $1.5M bug bounty after patch pumps token price <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDIvMGZhYzM3YjUtMjMzZi00ZGMxLTg0MjctMzBhOTAxOGY3NTM1LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-5a136f3a>A whitehat hacker has seen what was already one of the largest smart contract-related bug bounties ever awarded more than double, after the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coinmarketcap.com\/currencies\/armor\/\">ARMOR<\/a> token price pumped following the announcement of his reward.<\/p>\n<p>On Feb. 3 ArmorFi <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/ArmorFi\/status\/1356784271923503108\">announced<\/a> that Alexander Schlindwein of Idea Markets had identified a critical bug in its smart contracts before the insurance brokerage platform went live.<\/p>\n<p>If left unpatched, the bug would have allowed a bad actor with just one dollar of coverage to drain the entirety of funds from ArmorFi\u2019s underwriting contract.<\/p>\n<p>Schlindwein was awarded 1 million Armor tokens, worth about $700,000 at the time of the announcement.<\/p>\n<p>However, <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> of the bug bounty payout increased market confidence in the platform and caused the token price to surge to a high of $1.58. This meant that the value of Schlindwein\u2019s windfall topped $1.5 million, making it one of the largest bug bounties ever to be awarded.<\/p>\n<p>ArmorFi chief <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> officer Robert Forster, who had introduced the bounty, offered to get a tattoo of Schlindwein\u2019s choice to commemorate the find.<\/p>\n<p>The bug bounty was offered through the ImmuneFi platform, which specializes in smart contract and blockchain bounties.<\/p>\n<p>Such bounties have emerged as one of the key ways to battle-test new platforms before going live.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/whitehat-hacker-receives-1-5m-bug-bounty-after-patch-pumps-token-price\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Whitehat hacker receives $1.5M bug bounty after patch pumps token price &#8221; A whitehat hacker has seen what was already one of the largest smart contract-related bug bounties ever awarded more than double, after the ARMOR token price pumped following the announcement of his reward. On Feb. 3 ArmorFi announced that Alexander Schlindwein of&#8230;<\/p>\n","protected":false},"author":1,"featured_media":171532,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDIvMGZhYzM3YjUtMjMzZi00ZGMxLTg0MjctMzBhOTAxOGY3NTM1LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74868,117,70944,70299],"class_list":["post-171531","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-defi","tag-business","tag-hackers","tag-insurance"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/171531","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=171531"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/171531\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/171532"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=171531"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=171531"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=171531"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}