Binance just made a spectacular announcement that is bound to cause a frenzy amongst the tech nerds. The popular cryptocurrency exchange just announced that it is going to organize a bug bounty program to detect any remaining flaws in the Binance DEX.
Although that seems like a reasonable thing to do, and something that is done by many platforms frequently, wait till you hear what Binance is willing to offer anyone who finds a bug.
The exchange has announced that it is willing to offer a bounty of up to $10,000 in BNB, for each loophole found by an user on the binance.org website, the dex.binance.org (API) and Binance Chain.
The official announcement came via Twitter. Binance’s official account tweeted the following:
#Binance Chain Testnet Bug Bounty Program https://t.co/XtmYc94FfW pic.twitter.com/1SPUb5vbdZ
— Binance (@binance) March 4, 2019
The guidelines of the program have also been clearly outlined. The following are the rules and regulations of the program:
The CEO of Binance, Changpeng Zhao had also retweeted the information about the bug bounty program.
To test the hell out of @Binance_DEX , we are giving away roughly $100,000 USD equivalent, in REAL $BNB , as reward for our testnet trading competition.
You have nothing to lose!
Come and join the fun, and help us launch the mainnet faster! https://t.co/2NK8LVVAGY
— CZ Binance (@cz_binance) March 1, 2019