Crypto hack losses hit $110M in July as bug bounties accelerate
Immunefi says researchers earned $2.32 million for confirmed bugs while attackers took roughly $110 million.
What happened
Immunefi recorded roughly $110 million in crypto losses from July attacks while paying researchers $2.32 million for confirmed vulnerabilities. Its audit competitions found 6.2 serious flaws per engagement, compared with 1.5 in conventional tier-one audits.
Why it matters
Audit competitions are surfacing more serious flaws per engagement than conventional audits, changing how protocols buy security.
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Whether higher bounty payments reduce repeat exploits and shorten the time between disclosure and remediation.