1inch Network, a prominent decentralized exchange protocol, has announced an expansion of its bug bounty program, offering up to $500,000 for critical bug discoveries.
1inch Offers $500,000 for Critical Bug Discoveries
The 1inch Network protocol is responding to a recent security incident by offering rewards of up to $500,000 for the discovery of critical vulnerabilities. This decision follows a March exploit that resulted in losses exceeding $5 million. Co-founders Sergej Kunz and Anton Bukov spearheaded this initiative to improve the security of the network's core components.
DeFi Security Bolstered by Increased Bug Bounties
The expansion of the bug bounty is expected to enhance security scrutiny in the DeFi space. 1inch aims to strengthen its defenses against potential vulnerabilities by incentivizing white-hat hackers. Additionally, experts recommend conducting contract audits and updating security systems in response to industry vulnerabilities.
March Breach Influences Industry-Wide Security Updates
Past incidents, such as the March 2025 breach, resulted in significant financial losses. By increasing the scope of the bug bounty, 1inch aligns with other leading DeFi protocols focused on security enhancements. Experts from Kanalcoin suggest that this move could prevent repeat incidents and restore user confidence in the protocol.
The expansion of the bug bounty program at 1inch Network reflects a broader trend toward enhancing security in the DeFi space, promoting awareness of the protection of digital assets.
