Circle and Tether are being questioned by LlamaRisk, a DeFi risk manager, for "grossly inadequate" bug bounty schemes that do not even top $10,000.
LlamaRisk published a report on September 1 evaluating bug bounty programs for crypto assets listed in the Aave V3 protocol. The report found that of the assets Aave supplies, 33 assets (valued at $19.70 billion) have bug bounty programs that are considered "adequate". But another 10 assets (valued at $19.20 billion) either do not have bug bounty programs or are severely inadequate.
LlamaRisk notes that while Circle manages $70 billion in assets, its bug bounty is "grossly inadequate," at $5,000, while Tether, which manages $160 billion in assets, has a bug bounty of only $10,000.
Other assets with low bug bounty amounts include BitGo wrapped bitcoin, Gnosis, and Ripple; while Etherfi, Monerium, PayPal, and Agora were flagged as having no active bug bounty programs at all.
LlamaRisk: Circle and Tether's bug bounty programs fall far short
2025-09-11 05:17:41
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