The Buglab team has announced it’s giving away $2million worth of BGL tokens to researchers for its upcoming cybersecurity contest.
Buglab is set to launch the beta version of its platform and has therefore made it clear that exchanges interested in running a launchpad or promote its TGE will be given its highly effective penetration testing system.
At the end of the context, expert cybersecurity researchers will be selected to draft a report and draw a comprehensive preventive measure to avoid such bugs in the future.
The team has also made it clear that participating exchanges stand a chance to receive $20,000 as Buglab’s enterprise plan. Also, the top three winners of the competition will receive $10,000 each and another $10,000 for special rewards.
However, peradventure no bugs were found in the system, Buglab will give out 50 percent of the allocated sum in BGL tokens to the exchange.
Buglab CEO, Reda Cherqaoui said that:
“Cryptocurrency exchanges should be concerned about securing the funds of their traders, as these funds equate to billions of dollars. With new exchanges launching every week and increasing danger of security breaches, we aim to provide the industry with a secure, cutting-edge service to help mitigate against these increasing risks.”
With each passing day, hackers are getting more and more sophisticated in their acts. In recent times, there have been quite many hacks and heists.
In January, the Coincheck exchange was hacked, with the fraudsters carting away with more than half a billion dollar worth of cryptos and some weeks ago, Bithumb also fell victim to cyberpunks.
With Buglab, crypto exchange hacks will be a thing of the past, as the Ethereum-based platform offers highly functional tools for vulnerability detection and fixing.
The Buglab contest and the Vigilante Protocol allows crypto firms from around the world to discover and fix bugs in real time.
Buglab was founded by engineer Reda Cherqaoui, a cybersecurity expert that has developed solutions for firms like Facebook, eBay and more.
Buglab Token Information
The Buglab TGE is live now, and interested participants can join the presale via https://buglab.io/whitelist/
There is a total of 425 million BGL token, with only 170 million up for sale during the sale, at a price of $0.15 per token.
Early birds in the TGE stand a chance to receive exciting bonuses.
First 24 hrs = 20 percent bonus
Week1 = 15 percent bonus
Week 2 = 10 percent bonus
Week 3 = 0 percent bonus.
For more, visit https://buglab.io/#top