Synthetix ethereum collateral contract Bug, no funding risk

Beat beats news, Synthetix contract March 26 blog post says independent security researcher Sam Sun (@samczsun) discovered a bug in the ethereum collateral contract during a recent review of the Synthetix contract. However, the bug code is deployed to the main network but not yet activated, so no money is at risk.

Synthetix says that the code needs to be switched from protocol and that the new protocol can only be activated at the end of the trial period after two months to solve the problem. So the Synthetix team decided to suspend the new ethereum mortgage anyway. Loans that are already open will remain open, but for now Synthetix is encouraging everyone to close the loan so they can deploy the updated contract, but not forcing users to do so.

Synthetix has had an open Bug reward program since early 2019, as previously reported by pulse, and now the team has updated the Bug reward level:

Informational: $100

Mild: $500

Medium: $1000 / day

Severity: $5,000

Although the above code discovered by Sam has not been activated, the team considers it a serious error and will pay Sam a bug discovery reward for severity, which is $5,000.

The original address: https://blog.synthetix.io/bug-disclosure/ 

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