Ethereum Launches $2M Hackathon to Test Blockchain Security

Ethereum's security team is launching a four-week hackathon to test the blockchain's security. Dubbed 'Attackathon', the event offers a $2 million reward pool and aims to be the largest crowdsourced security audit of Ethereum's codebase.

The hackathon will begin with a technical walkthrough of the blockchain's code, ensuring participants are prepared to identify potential vulnerabilities. Security researchers will then search for bugs in the protocol's code, following specific rules set for the competition. Only impactful and rule-compliant reports will be rewarded.

Bug bounty platform Immunefi is hosting the event and compiling a report detailing discovered vulnerabilities post-event. The Ethereum Protocol Security (EPS) research team has contributed $500,000 to the prize pool and is seeking sponsors to raise an additional $1.5 million by August 1.