CertiK Discovers Security Threat in Sui Blockchain, Receives $500K Bounty

Blockchain security company CertiK has been rewarded with a bounty of $500,000 by the Sui network for identifying a critical threat that could have disrupted the integrity of the entire layer-1 blockchain.

Known as the “HamsterWheel” vulnerability, this attack differed from traditional methods and posed a serious risk to the network’s operations.

In response to CertiK’s discovery, Sui promptly implemented necessary fixes to safeguard against potential damages. The bounty award underscores the importance of bug bounty programs in maintaining blockchain security.

According to Kang Li, Chief Security Officer at CertiK, the HamsterWheel attack represents the evolving sophistication of threats faced by blockchain networks.

With constant advancements in attack techniques, it is crucial for security firms to stay vigilant and proactively identify vulnerabilities. By detecting and reporting the threat prior to Sui’s mainnet launch, CertiK played a vital role in ensuring the network’s robustness and resilience.

Bug bounty programs provide a proactive approach to cybersecurity by incentivizing security experts to identify and report vulnerabilities in exchange for rewards.

Sui’s decision to award CertiK a substantial bounty demonstrates the effectiveness of such programs in promoting a collaborative approach to security.

By fostering partnerships between security firms and blockchain projects, bug bounty programs enhance the overall resilience and trustworthiness of decentralized networks.