Hacker Rewarded with $5k for Finding First Critical Vulnerability in Augur

Hacker Rewarded with $5k for Finding First Critical Vulnerability in Augur

cryptocurrency exchange News
July 6, 2018 by Sandra Onyeiwu
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The first severity bounty ($5,000) has been awarded to a hacker named Edmund who found the first critical vulnerability on Augur platform. Augur (REP) announced a $200,000 bug bounty program aimed at discovering and eliminating potential technical vulnerabilities as it gears towards its main net launch on July 9. Despite the diverse responses from the
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The first severity bounty ($5,000) has been awarded to a hacker named Edmund who found the first critical vulnerability on Augur platform.

Augur (REP) announced a $200,000 bug bounty program aimed at discovering and eliminating potential technical vulnerabilities as it gears towards its main net launch on July 9.

Despite the diverse responses from the public following the announcement of its bounty program, Augur shut all doubts by paying Edmund $5,000 for finding the first critical vulnerability on their platform.

Edmund discovered an attack where a miner could manipulate the gas reporting bond, making it too expensive for honest users to create markets.

Augur is the only company that has opted to make details of the vulnerabilities visible to the public. It revealed that a flaw in its network made it possible for malicious miners to manipulate gas reporting bonds and hike up the fees required for creating new markets on the platform.

“By creating a market with themselves as designated reporter and setting a very high gas price for their own block at no cost to themselves, miners can manipulate the gas reporting bond,” Edmund explained “An attacker can increase the gas reporting bond required to create a market arbitrarily [and] make the gas reporting bonds too high for honest users to create markets.”

Augur expects to find more vulnerability issues being reported as the bounty program continues.

 

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