What Is BugRap?

BugRap is a bug bounty platform focused on the Web3 field, established in 2022 with its headquarters located in Singapore. We rely on tens of thousands of white hat hackers resources and deep cooperation with professional Web3 security companies to help project teams discover and repair product security issues in a timely manner, and to continuously guard project security.

Why Do You Need BugRap?

Maintaining product security is an ongoing task that demands constant vigilance and significant effort from project teams. In the realm of Web3, guaranteeing product security has become especially crucial.

At present, security audits are considered a crucial security measure for Web3 projects. Nevertheless, even if a security audit is passed, some projects still experience losses due to hacker attacks. This implies that a single or brief security audit may not be sufficient to address all security concerns of the product.Additionally, as product features continue to evolve and improve, there is a possibility of new security issues emerging.

To ensure the continuous security of a product, security audits should be supplemented with other security measures. BugRap’s bug bounty program is an effective addition to security audits and helps project teams to maintain their focus on security and ensure the safety of their products.

BugRap has a vast of white hat resources and collaborates with professional security companies to help project teams quickly detect and solve potential security issues. By partnering with BugRap, project teams can increase the involvement of white hats and foster a close working relationship with them. This partnership not only provides security assurance but also creates a mutually beneficial ecosystem that supports the long-term development of Web3 projects.

Blockchain attack statistics for the Year 2022

By SlowMist

According to the SlowMist Hacked archive, there were a total of 303 security incidents in 2022, resulting in a loss of up to $3.777 billion (calculated at the time of the incident). Among them, there were 255 security incidents related to DeFi, cross-chain bridges, NFTs, while 10 incidents were related to exchanges, 11 incidents were related to public chains, 6 incidents were related to wallets, and 21 incidents were related to other types of security issues.

By Beosin

During 2022, over 167 significant attacks occurred in the Web3 sector, causing a total loss of $3.6384 billion due to various types of attacks. This represents a 47.4% increase in attack losses compared to the previous year. Out of these incidents, there were 10 security events that incurred losses exceeding $100 million, and 21 incidents that caused losses between $10 million to $100 million.

The attack method that was used most often and resulted in the highest losses throughout the year was exploiting vulnerabilities. In 2022, there were 87 incidents where vulnerabilities were exploited, causing a total loss of $1.458 billion.

Out of the 167 major attacks that were detected in 2022, around half of them were audited projects and the other half were unaudited projects, with each accounting for 51.5% and 48.5% respectively.

What Services Does BugRap Offer?

BugRap offers a bug bounty program that allows project teams to incentivize white hat hackers to report vulnerabilities, leading to prompt resolution of security issues. As part of this process,We provide:

1. Professional white hat security team

BugRap collaborates with various white hat hackers and security companies to gather professional security talents for continuous vulnerability testing of your project, as there is a scarcity of security experts and it is challenging to bring them together. These security talents include auditors from well-known auditing firms and members of the Web2 vulnerability bounty program hall of fame.

2. Flexible bug bounty programs

BugRap provides two options for vulnerability bounty programs, which are Public Bounties and Private Contests.

While Bounties are open to all white-hat users, KYC certification and application are necessary for accessing Contests.

For projects that require more secure measures, Contests offer a private testing option that allows for more precise control over the direction of vulnerabilities. This method only releases tasks to specific white-hat users and keeps the bounty program confidential, thereby providing project owners with more adaptable and manageable security protection.

3. Professional and efficient report review process

BugRap has a team of highly experienced security auditors who possess vast knowledge in security. Upon receiving vulnerability reports from white hat hackers, BugRap conducts validity checks to confirm the authenticity of the reports and to ensure that they fall within the project’s bounty scope. This process eliminates invalid reports, enabling the team to focus on addressing actual security issues.

4. User-friendly vulnerability management dashboard

Once you have logged in to your BugRap project account, you will be able to manage all the vulnerability reports for your project with ease. The dashboard allows you to view, confirm, resolve, and pay bounty for the reports conveniently, all on a single page, thereby streamlining the management process and making it more effective and professional.

5. PR and brand influence

Once you have joined BugRap, we will maintain high-quality promotional interactions with your project. After receiving vulnerability reports and obtaining your permission, we will write articles with high traffic and exposure based on the vulnerability reports, showcasing your project’s high regard for security and professional processes for handling vulnerability reports to the crypto community.

How Does It Work?

1. Settle-in

2. Fee

How much does it cost to launch your bug bounty program on BugRap?

The answer is zero!

You only need to pay the bounty to the white hat author who submits a valid vulnerability report and after it has been fixed. Additionally, you will need to pay BugRap a service fee of 10% of the bounty amount.

How To Join Us?

If you want to showcase your project’s strong commitment towards security to your users or the world, please click here https://bugrap.io/project/register to submit a registration request.Our team will get in touch with you within three working days.

If you are interested in our services or would like to learn more information, please feel free to email us at [email protected] to get in touch!

Contact Us

Website: https://bugrap.io/

Twitter: https://twitter.com/BugRap_Team

Email: [email protected]

Our Partnered Projects (ongoing)

Wallet

Exchange

SmartContract

BlockChain

Our Partnered White Hat Hacker Teams (ongoing)