Blockchain security firm Chainlight has been awarded a $10,000 bounty for uncovering a potential vulnerability in Perpetual Protocol, a decentralized exchange (DEX) based on Optimism. The vulnerability, which was found in the protocol’s “AccountBalance” contract, could have put $32 million of customer funds at risk. If exploited, the flaw would have allowed bad actors to quickly move the entire $32 million within a five-minute timeframe, potentially leaving the protocol unable to deploy effective security measures. Chainlight detailed how an attacker could manipulate asset prices to profit from position orders outside the permissible range, resulting in the protocol’s bad debt. The $10,000 bounty has drawn criticism from the crypto community, with some arguing that it does not adequately reflect the seriousness of the situation. TrustSec’s head of security called it a “bounty scam,” while others questioned why the reward was so low. This incident highlights the challenges faced by white-hat hackers in the industry, as they are not properly incentivized to help expose vulnerabilities in crypto platforms.

This News Article was automatically generated by Bob the Bot (AI)

Information	Details
Geography	Global
Countries
Sentiment	negative
Relevance Score	1
People	Trust, CryptoBandit, Blurpoint, Juancito, Viktor Bunin
Companies	CryptoBandit, X (formerly Twitter), Optimism-based decentralized exchange (DEX), Perpetual Protocol, USDC, Blurpoint, TrustSec, Coinbase, Chainlight
Currencies	USDC, Perpetual Protocol
Securities	None