INTELLIGENT BRANDS // Enterprise Security
Seychelles based KuCoin partners with Hacken to launch $ 1 Million Bug Bounty Programme
KuCoin , the top five global cryptocurrency exchange , announced its partnership with cybersecurity company Hacken to launch a $ 1 million bug bounty programme , which is the biggest bounty reward among crypto exchanges so far . Meanwhile , a new security landing page was launched on the KuCoin website to outline its industrysecurity practices and provide users with resources and tips to enhance their own account security .
Launched in September 2017 , KuCoin is a global cryptocurrency exchange with its operational headquarters in Seychelles . As a user-oriented platform with a focus on inclusiveness and community action reach , it offers over 700 digital assets and currently provides Spot trading , Margin trading , P2P fiat trading , Futures trading , staking , and lending to its 27 million users in 207 countries and regions .
Medium : $ 500 –$ 1,999 and Low : $ 50 –$ 499 , With the largest pay-outs issued for high-risk vulnerabilities that could compromise user accounts or the exchange ’ s infrastructure .
Hacken is a cybersecurity consulting company that provides a range of services including penetration testing , bug bounty programs , and blockchain security audits . The KuCoin bug bounty programme is now live . In July 2022 , KuCoin launched the bug bounty programme on the HackenProof platform with the highest reward of $ 5,000 per reported bug .
In addition to the bug bounty programme , KuCoin has launched a new security page to showcase its strong commitment to providing a safe and secure trading platform for its users . The new page features an array of advanced security measures designed to protect users ’ assets and personal information , giving them peace of mind while trading .
“ At KuCoin , the safety and security of our users is our topmost priority , we are investing heavily in measures that strengthen protections for our users and their funds . Partnering with HackenProof and launching this bug bounty programme will enable us to tap into the skills and expertise of the cybersecurity research community to identify and patch any vulnerabilities before they can be exploited ,” said Johnny Lyu , KuCoin CEO . p
In 2022 , KuCoin raised over $ 150 million in investments through a pre-Series B round , bringing total investments to $ 170 million with Round A combined , at a total valuation of $ 10 billion . KuCoin is currently one of the top five crypto exchanges according to CoinMarketCap .
The bug bounty programme will reward security researchers for discovering and responsibly disclosing vulnerabilities on the KuCoin platform , aiming to further strengthen the security of KuCoin and protect its users ’ funds . HackenProof will help KuCoin to review submissions from researchers and determine reward amounts based on the severity of each vulnerability .
Rewards will range from $ 50 to $ 1,000,000 per bug , which are categorised as Critical : $ 50,000 –$ 1,000,000 ; High : $ 2,000 –$ 49,000 ;
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