Sky Mavis, the company behind the Axie Infinity blockchain, is offering up to $1 million to anyone who can identify major security vulnerabilities in its platform.

This comes after the company suffered the largest DeFi hack in history, draining more than $600 million from the Ronin blockchain bridge.

Troubleshooting:

According to the company’s website, the “Sky Mavis” bounty program will take a cue from the “Bugcrowd” vulnerability rating.

The Sky Mavis system will help set priorities and evaluate community outcomes on security issues.

The more dangerous and disruptive a particular vulnerability is, the higher the reward for finding it.

Read:Bitcoin Records Biggest Adjustment in Mining Difficulty…How Will This Help the Mining Audience?

Potential weaknesses are divided into two categories:

• Smart contracts and blockchain.
• Web and applications.

A list of smart contracts and web applications eligible for auditing will be provided.

Web and application vulnerabilities generally offer lower rewards, with a maximum of $15,000 for critical and proven results.

By contrast, blockchain vulnerabilities promise rewards across five severity levels, ranging from $1,000 for low-risk outcomes to $1,000,000 for deadly outcomes.

These rewards will be paid in AXS digital currency.

However, the program comes with strict and specific rules.

For example, weaknesses should include a proof of concept, rather than remain purely theoretical.

It should not require a root (jailbreak) to do so and should have a significant security impact.

On Monday, Alexander Larsen, COO of Sky Mavis, tweeted:

We have summoned all qualified and capable personalities in the field of Blockchain.

The Sky Mavis Bug Bounty Program is here.

Help us keep Ronin’s network safe and earn the reward.

Ronin Bridge hack:

As a reminder, late last month, Ronin, an Ethereum-based side network, saw Axie Infinity.

Read:Bitcoin erases the gains made in the last 24 hours and hopes for a quick recovery dwindle

This network has had over $600 million in ETH and USDC drained.

The hacker managed to steal all this by hacking the majority of Ronin’s verification nodes.

The hack was noticed 6 days after it occurred.

Since then, Sky Mavis has been working to recover the stolen funds and has promised to compensate the “Axie” players who were affected.

Currently, it appears that the hacker is already obfuscating the transfers of stolen funds in small batches using mixing services.

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