Poly Network, the victim of the recent DeFi attack, has announced that it is set for a relaunch. The network revealed that its planned comeback is in partnership with bug bounty platform Immunefi and it would be offering as much as $500,000 to anyone who discovers smart contact flaws and code bugs on the network.
Upon the announcement, Immunefi began its bug bounty and disclosed that $100K could be up for grabs if specific vulnerabilities are discovered. It also revealed that the bug bounty program is geared to discovering possible theft or loss of users’ funds on the Poly Network ecosystem.
Per the bounty platform, rewards would be distributed based on the level of impact of the vulnerability and its Immunefi Vulnerability Severity Classification System.
You’ll recall that Poly network was a victim of the largest single Defi hack in recent memory where over $600 million was siphoned by a hacker which the network now calls “Mr. White Hat.”
While the hacker has since returned all stolen funds and has refused any form of rewards for his actions, he disclosed that he had hacked the ecosystem to “give them tips on how to secure their networks so that they can be eligible to manage a billion [dollar] project in the future.”