To improve platform security, the well-known international cryptocurrency exchange KuCoin has teamed up with Bugcrowd, the top crowdsourced cybersecurity platform.

This new security-focused partnership was disclosed by KuCoin in a recent press release that Coin Edition was able to view.

Through this partnership, a comprehensive bug bounty programme aimed at locating and fixing any vulnerabilities throughout KuCoin's platform is now live.

The program's main objective is to identify important security holes in web and mobile modules.

Targeted vulnerabilities for the web modules include things like payment manipulation threats, business logic weaknesses, remote code execution, and sensitive information leaks. A variety of OWASP problems are also covered by the programme, including SQL Injection and Cross-Site Scripting (XSS).

On the mobile front, though, the emphasis is on vulnerability functions that can access unsafe external links. It includes potential exploitations of the “Jsbridge/Javascript interface” that could harm users and other mobile-related susceptibilities that could result in potential losses.

KuCoin and Bugcrowd have established a tiered reward system based on the severity of identified vulnerabilities to incentivize security researchers and reward their efforts. The rewards range from $10,000 for extreme severity to $50 for low severity issues.

Specifically, detected extreme severity issues are rewarded with $10,000, and critical severity vulnerabilities range from $3,000 to $5,000.

Moreover, high-severity findings receive rewards ranging from $1,000 to $2,000, while medium-severity discoveries are rewarded between $200 and $400. Low-severity issues merit rewards varying from $50 to $100.

Johnny Lyu, CEO of KuCoin, emphasized the exchange’s commitment to prioritizing the security of user assets and transactions. Lyu remarked:

As People’s Exchange, the security of users’ assets is always our top priority. Ensuring the safety of user assets and transactions is an ongoing endeavor to which we are committed.

Bugcrowd CEO Dave Gerry echoed Lyu’s sentiments, highlighting the importance of trust and security in the cryptocurrency market.

“We’re excited to partner with KuCoin to launch their Bug Bounty Program to achieve a safer trading environment for all users,” Gerry remarked.

KuCoin partners with Bugcrowd to launch a bug bounty program to enhance security across its trading platform.

The program targets critical vulnerabilities in web and mobile modules, with rewards of up to $10,000 for extreme issues.

High-severity findings receive rewards up to $2,000, while medium-severity discoveries are rewarded up to $400.