{"id":529570,"date":"2022-12-20T14:00:00","date_gmt":"2022-12-20T11:00:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/projects-would-rather-get-hacked-than-pay-bounties-web3-developer-claims\/"},"modified":"2022-12-20T14:00:00","modified_gmt":"2022-12-20T11:00:00","slug":"projects-would-rather-get-hacked-than-pay-bounties-web3-developer-claims","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/projects-would-rather-get-hacked-than-pay-bounties-web3-developer-claims\/","title":{"rendered":"# Projects would rather get hacked than pay bounties, Web3 developer claims"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a2bfe62b37a0\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a2bfe62b37a0\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/projects-would-rather-get-hacked-than-pay-bounties-web3-developer-claims\/#%E2%80%9D_Projects_would_rather_get_hacked_than_pay_bounties_Web3_developer_claims_%E2%80%9C\" >&#8221; Projects would rather get hacked than pay bounties, Web3 developer claims  &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Projects_would_rather_get_hacked_than_pay_bounties_Web3_developer_claims_%E2%80%9C\"><\/span>&#8221; Projects would rather get hacked than pay bounties, Web3 developer claims  &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTIvY2E2NTNiZGYtZGYwOC00OWI5LTk3YzQtZjI4MzliNmNkNzNlLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-30a6cf80>As hacks and exploits continue to go rampant within the crypto industry, the importance of finding vulnerabilities to prevent potential losses becomes of utmost importance. However, a Web3 developer highlighted that it\u2019s not rewarding to do so.\u00a0<\/p>\n<p>In a tweet, a Web3 developer <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/kklas_\/status\/1604905324175323136\">claimed<\/a> that he found a vulnerability in a Solana smart contract that would have affected several projects and around $30 million in funds. According to the dev, he reported and helped patch the vulnerabilities. However, when it was time to ask for a reward, the projects just started to ignore him. <\/p>\n<p>The developer noted that this sends a wrong message because it shows that projects would rather get hacked than have critical bugs reported to them. He <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/kklas_\/status\/1604905329421975552\">wrote<\/a>: <\/p>\n<blockquote><p>\u201cThis is why you have situations like the Mango exploit h<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>en where the exploiter will first steal the funds and then start negotiating. There&#8217;s no proper incentive to report.\u201d<\/p><\/blockquote>\n<p>Community members also echoed the sentiment of the developer. Smit Khakhkhar, a fellow developer, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/0xSmit\/status\/1604915312977391617\">responded<\/a> by claiming that he also made the same mistake multiple times. \u201cThis is one major reason why hackers exploit first and then negotiate,\u201d he wrote. On the other hand, a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> user thinks that it&#8217;s also possible for developers within the projects to secretly want to exploit the code for themselves. They tweeted: <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Yep, the incentives to hack it yourself is  way higher than the incentive to report. Also..perhaps these devs secretly wanted to exploit it themselves. Don&#8217;t rule that out. I&#8217;m sure the people that a most likely to spot exploits are the code writers.<\/p>\n<p>\u2014 ReddSpark (@Redd_Spark) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Redd_Spark\/status\/1605078346471133184?ref_src=twsrc%5Etfw\">December 20, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Because of these, some <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/sonderplaya\/status\/1604927911693262866\">predict<\/a> that the next cycle in crypto will be a break-and-fix cycle. According to the community member, traders could potentially pay blackhats to exploit critical vulnerabilities while shorting projects.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Trader allegedly saw over 5,000x gains after Ankr protocol hack<\/em><\/strong><\/p>\n<p>Meanwhile, many industry executives believe that artificial intelligence programs like ChatGPT can contribute to securing smart contracts. Speaking to Cointelegraph, HashEx CEO Dmitry Mishunin recently noted that ChatGPT can be integrated and reduce the number of hacks within the industry. <\/p>\n<p>Within crypto, many hacks have been highlighted in the decentralized finance (DeFi) space. Despite this, many industry professionals are confident that broader DeFi adoption can be achieved by educating institutional players and eliminating user experience barriers. <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"defi_newsletter\"><\/template><\/div>\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 <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> 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\/projects-would-rather-get-hacked-than-pay-bounties-web3-developer-claims\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Projects would rather get hacked than pay bounties, Web3 developer claims &#8220; As hacks and exploits continue to go rampant within the crypto industry, the importance of finding vulnerabilities to prevent potential losses becomes of utmost importance. However, a Web3 developer highlighted that it\u2019s not rewarding to do so.\u00a0 In a tweet, a Web3&#8230;<\/p>\n","protected":false},"author":1,"featured_media":529571,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2022-12\/ca653bdf-df08-49b9-97c4-f2839b6cd73e.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74894,74868,74882,75434,70944],"class_list":["post-529570","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-blockchain","tag-defi","tag-hacks","tag-smart-contracts","tag-hackers"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/529570","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=529570"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/529570\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/529571"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=529570"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=529570"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=529570"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}