Connect with us
Prague Gaming & TECH Summit 2025 (25-26 March)

Blockchain

Multichain announced 10% of its monthly transaction fees to set aside for Security Fund

Published

on

 

On March 17, 2022Multichain announced that a security fund for protecting users’ assets from potential risks was officially established. From March 17 onward, 10% of Multichain’s monthly transaction fee will be set aside for the security fund. On the same day, it also jointly launched a bug bounty program with Immunefi. The maximum bounties up to $2,000,000 have been set to encourage Multichain vulnerability review and disclosure.

Multichain Security Fund

Multichain has decided that from March 17 onward, 10% of Multichain’s monthly transaction fee will be set aside for the security fund. This fund is mainly used to compensate users for any potential loss caused by vulnerabilities in Multichain systems and services. When risks occur and users indeed suffer from losses, Multichain will jointly investigate the incident with a third-party security agency, to analyze and identify the causes of the loss. An analysis and compensation plan will be displayed in the Multichain community. This provision, however, does not apply to user losses caused by project partners’ systems/services, misoperations by users themselves, or risky operations by users themselves through negligence. Multichain will strictly follow the terms of the fund, to effectively protect the legitimate rights and interests of Multichain users. Click here to learn more details about Multichain Security Fund.

Bug Bounty Program up to $2M

In collaboration with Immunefi, this bug bounty program is set to encourage the community to review Multichain’s code and security. Multichain will provide considerable rewards ($500 to $2,000,000) for discovering and submitting vulnerabilities. Multichain believes it’s important to make the good guys stay motivated and make sure they know they are appreciated.

The main BBP scope includes the entire architecture of Multichain, as well as all currently deployed components, developer documents and listed assets, and smart contract addresses. Smart contracts and applications built by third-party developers on the basis of Multichain are not included in the Program’s reward scope. Click here to learn more details about the program.

Advertisement

Blockchain

Bybit Receives Georgian VASP License, Strengthening Global Regulatory Presence

Published

on

bybit-receives-georgian-vasp-license,-strengthening-global-regulatory-presence
Continue Reading

Blockchain

Accredited Solutions, Inc. Announces Strategic Acquisition of GlobeTopper, a $37M Revenue Platform Acquisition to Anchor Fintech Strategy

Published

on

Continue Reading

Blockchain

DIGZAX Enhances Collaborative Security System, Pioneering New Heights in Cryptocurrency Trading

Published

on

digzax-enhances-collaborative-security-system,-pioneering-new-heights-in-cryptocurrency-trading

DIGZAX

Continue Reading
Advertisement
 title=
Advertisement

Latest News

Recent Listings

  • Global Payout, Inc.

    Since the Company’s inception in 2009, Global Payout, Inc. has been a leading provider of compreh...

  • MTrac Tech Corp.

    MTrac Tech Corporation, a Nevada Corporation, is a privately held, wholly owned subsidiary of Glo...

  • Net1

    Net1 is a leading provider of transaction processing services, financial inclusion products ...

  • uBUCK Technologies SEZC

    Based in Georgetown, Cayman Islands, uBUCK Tech is a fintech enterprise that specializes in digit...

  • LiteLink Technologies Inc.

      LiteLink is a major player in developing world-class enterprise platforms that utilize ar...

  • Good Gamer Corp.

      Good Gamer Corp. is a privately-held technology company focusing on gamers and streamers....

  • BitPay

      Founded in 2011, BitPay pioneered blockchain payment processing with the mission of trans...

  • About Net1

      Net1 is a leading provider of transaction processing services, financial inclusion produc...

  • Blockchain Foundry Inc.

    Headquartered in Toronto, Canada, Blockchain Foundry (CSE:BCFN)(FWB:8BF)(OTC:BLFDF) is a global b...

  • Sixgill

    Sixgill provides a full suite of universal data automation and authenticity products and services...

Trending on TBE