13 Jul 2018 Arjun Agarwal
Nano Launches Bug Bounty Program Following Android Wallet Security Flaw
Nano’s has been running the private program through HackerOne for a couple of months. As part of their strategy to deliver a secure wallet application, the XRP team invites developers and professionals across different industries to inspect the existing wallets versions, the codes and protocols, developed by Nano’s team. The network aims to find out all possible bugs that people can identify.
The announcement comes 20 days after the Nano community using the token’s own wallet was asked to move their digital assets to another wallet derived from a different seed.
Nano made the top news headlines recently when hackers stole $150 million worth of XRB coins from the BitGrail exchange. The crypto community didn’t see an official statement by Nano’s team. The only communication released by the team was the Reddit post of Troy Retzer, the network’s Chief Communications and PR Officer, saying that the damage was evaluated at a lower value than expected.
The incident happened only a few hours after the Nano Android Wallet was released. As a result, the XRB market price fell from $3.21 to $2.57 during the next 24 hours.
Reddit users stated that the crisis could have been avoided if the codes were open to the public to investigate. A few weeks later, Nano announced that while the core team continues to perform a professional security audit of the protocol, it is seeking the community’s vital contribution.
Those who contribute would benefit from bounty levels and financial compensations, relevant to the found bugs., ranging from $250 for minor issues to a high of $5,000 or more for critical bugs.
As of press time, since the Public Bug Bounty Program launch, six critical issues have been reported and claimed as eligible for a bounty. The ultimate goal of Nano for this program is to make the protocol and the wallets more secure and return users trust in the network and its wallet.