link.png

ID:

armorfi-406

Date:

Status:

Incident Count:

February 5, 2021

Verified

2

info.png
target.png
REKT

Contributor:

chain.png

zerofriction.io

KYC By:

KYC:

None

info.png

Audit By:

Audits:

None

Loss Amount:

-

info.png

Recovered:

-

Rewards:

Currency:

USD

info.png

Key Indicators

Platform:

Type:

Category:

Method:

Data Sources:

Ethereum

DApp

Insurance

Contract Vulnerabilities

Extended Method:

Contract vulnerabilities

info.png

Days in Operation:

621

(1.70 Years)

chain.png
chain.png
chain.png
chain.png
datasource.png

ArmorFi, a decentralized finance (DeFi) insurance brokerage, is paying a hefty bug bounty of $1.5 million in tokens to a white-hat hacker who found a "critical bug" that could have seen all the firm’s underwriting funds drained. Submitted by Alexander Schlindwein via bug bounty platform Immunefi, the submission was awarded the largest bounty ever paid out in the DeFi community, Immunefi said. Schlindwein submitted the bug just a day after ArmorFi offered 1 million "mostly vested" Armor tokens (currently worth nearly $1.5 million) to anyone who could spot a critical exploit in its smart contracts. As an amusing addition, ArmorFi's CTO Robert Forster had offered to get a tattoo of the name or handle of any hacker who found a critical bug. That's now an option for Schlindwein. “It’s a real privilege to have made possible the largest ever bug bounty payout. We’re going to keep rewarding the developers who make DeFi safe, and this is just the beginning,” said Immunefi CEO Mitchell Loureiro.

info.png

DISCLAIMER: While web3rekt has used the best efforts in aggregating and maintaining this database, this web site makes no representations or warranties with respect to the accuracy or completeness of its information and data herein, and specifically disclaim any implied warranties of merchantability or fitness for any particular purpose. 

Under no circumstances, shall web3rekt be liable for any loss of profit or funds, any regulatory or governmental penalties, any legal costs, or any other commercial and non-commercial damages, including but not limited to special, incidental, consequential, or other damages from any or all usage of the data and information derived from this database.