A Lucky Web3 Security Expert Received $150,000 Rewards for Identified A Bug

A Web3 security researcher recently received a $150,000 reward from Cosmos Network after discovering a critical bug that could have disrupted the Evmos blockchain and its decentralized applications.

On October 29, a Spearbit security researcher known as jayjonah.eth shared a blog post on platform X, detailing his discovery of a vulnerability within the Evmos (EVMOS) blockchain. 

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This issue, identified while participating in the Evmos Bug Bounty Program hosted by Immunefi, could have halted the entire network if left unresolved. The Cosmos Network awarded him $150,000 for the critical discovery.

In his post, the researcher explained how he began by studying Cosmos’s documentation, specifically “module accounts,” which he described as a “foundation” for understanding the blockchain structure. 

He discovered a cautionary statement that warned of potential network shutdowns if module accounts received funds outside of specific rules. This inspired him to test the system by sending funds to these module accounts, confirming that it could halt the network.

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Upon reporting his findings, jayjonah.eth received $150,000 — the highest award for critical-level vulnerabilities. He noted that the bug was a “low-hanging fruit,” a straightforward yet impactful flaw that reinforced the importance of thorough documentation review.

In recent months, other projects have introduced similar bug bounty programs. For instance, Layer3 launched a bug bounty with HackenProof, offering up to $500,000 in rewards. In addition, Immunefi partnered with the Ethereum Foundation to create “Attackathon,” an audit contest to further secure the Ethereum network.