VICTORIA, Seychelles--(BUSINESS WIRE)--KuCoin, the top 5 global cryptocurrency exchange, today announced its partnership with cybersecurity company Hacken to launch a $1 million bug bounty program, 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 industry-leading security practices and provide users with resources and tips to enhance their own account security.
The bug bounty program 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 categorized as Critical: $50,000 - $1,000,000; High: $2,000 - $49,000; Medium: $500 - $1,999 and Low: $50 - $499, With the largest payouts issued for high-risk vulnerabilities that could compromise user accounts or the exchange’s infrastructure.
"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 program 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.
Hacken is a leading cybersecurity consulting company that provides a range of services including penetration testing, bug bounty programs, and blockchain security audits. “We are excited to partner with KuCoin on this critical initiative and bring our experience managing bug bounty programs for major crypto exchanges,” said Dmytro Budorin, Hacken Founder & CEO. “Together, we will work to resolve any vulnerabilities discovered by the researchers and ensure that KuCoin is secure and meets the highest standards for safety.”
The KuCoin bug bounty program is now live. Security researchers can submit reports on any vulnerabilities they discover at https://hackenproof.com/kucoin/. In July 2022, KuCoin launched the bug bounty program on the HackenProof platform with the highest reward of $5,000 per reported bug.
“Increasing bounty rewards demonstrates the importance of security, fostering greater trust and transparency within the community and for clients. We are pleased to see KuCoin establishing a new trend in prioritizing the security of crypto exchanges.” said Dmytro Matviiv, Product Owner of HackenProof
In addition to the bug bounty program, 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.
“The new security page showcases our dedication to providing a secure trading platform for our users. We want our users to have peace of mind while trading on our platform, knowing that their assets and personal information are protected. We will continue to prioritize security and invest in the latest technology and partnerships with industry leaders like Hacken to ensure the highest level of security for our users." said Johnny Lyu, KuCoin CEO.
To learn more about KuCoin's advanced security measures, visit our new security page at https://www.kucoin.com/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.
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 5 crypto exchanges according to CoinMarketCap. Forbes also named KuCoin one of the Best Crypto Exchanges in 2023. In 2022, The Ascent named KuCoin the Best Crypto App for enthusiasts.
To find out more, visit https://www.kucoin.com.