High white hats searching vulnerabilities throughout decentralized protocols in Web3 are incomes tens of millions, dwarfing the $300,000 wage ceiling in conventional cybersecurity roles.
“Our leaderboard reveals researchers incomes tens of millions per 12 months, in comparison with typical cybersecurity salaries of $150-300k,” Mitchell Amador, co-founder and CEO of bug bounty platform Immunefi, informed Cointelegraph.
In crypto, “white hats” refers to moral hackers paid to reveal vulnerabilities in decentralized finance (DeFi) protocols. Not like salaried company roles, these researchers select their targets, set their very own hours and earn based mostly on the impression of what they discover.
Up to now, Immunefi has facilitated greater than $120 million in payouts throughout hundreds of experiences. Thirty researchers have already grow to be millionaires.
“We’re defending over $180 billion in whole worth locked throughout our packages,” Amador mentioned, including that the platform presents bounties of as much as 10% for crucial bugs. “These million-dollar payouts mirror the fact that many protocols have tens or a whole lot of tens of millions at stake from single vulnerabilities,” he mentioned.
Associated: New ModStealer malware targets crypto wallets across operating systems
$10 million bug bounty saved billions
The most important single payout to a Web3 white hat was $10 million, awarded to a hacker who discovered a deadly flaw in Wormhole’s crosschain bridge. Amador mentioned that vulnerability might have vaporized billions.
Regardless of that vulnerability being uncovered, Wormhole suffered a $321 million exploit on its Solana bridge in 2022, the biggest crypto hack of the 12 months. In Feb. 2023, Web3 infrastructure agency Bounce Crypto and Oasis.app conducted a “counter exploit” on the Wormhole protocol hacker, clawing again a complete of $225 million.
Amador revealed that crucial vulnerabilities account for the largest rewards. High researchers have pulled in between $1 million and $14 million, relying on the severity and scope of their findings. “These are the 100x hackers who can discover vulnerabilities others miss,” he mentioned.
Whereas the early years of DeFi have been affected by good contract bugs, 2025 has seen an increase in “no-code” exploits like social engineering, compromised keys, and lapses in operational safety. Regardless of that shift, bridges stay essentially the most profitable targets as a consequence of their crosschain complexity and the huge sums they safe.
Patterns have emerged within the sorts of tasks that get breached most frequently. “DeFi protocols dealing with vital TVL and missing sturdy bounty packages are essentially the most uncovered,” Amador mentioned. He warned that early-stage groups speeding to market with out safety measures, in addition to complacent established gamers, carry elevated dangers.
Associated: DeFi whale loses $40M as Kinto winds down and SwissBorg suffers hack: Finance Redefined
Crypto hackers stole $163 million in August
As Cointelegraph reported, crypto-related hacks and scams hit $163 million in losses in August, a 15% rise from July’s $142 million. Regardless of the spike, general incidents trended downward, with solely 16 assaults recorded in comparison with 20 in June.
Nearly all of losses got here from two main incidents. These embody a $91 million social engineering scam focusing on a Bitcoiner and a $50 million breach of Turkish exchange Btcturk.
Journal: Meet the Ethereum and Polkadot co-founder who wasn’t in Time Magazine