{"id":372832,"date":"2023-11-10T15:30:22","date_gmt":"2023-11-10T15:30:22","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=372832"},"modified":"2023-11-10T15:23:18","modified_gmt":"2023-11-10T15:23:18","slug":"32-million-vulnerability-in-perpetual-protocol-uncovered-by-chainlight-nets-10k-white-hat-reward","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/32-million-vulnerability-in-perpetual-protocol-uncovered-by-chainlight-nets-10k-white-hat-reward\/","title":{"rendered":"$32M vulnerability in Perpetual Protocol uncovered by Chainlight nets $10k in white hat rewards"},"content":{"rendered":"<p>Blockchain security firm Chainlight said it received a $10,000 bounty for uncovering a potential vulnerability that could have jeopardized $32 million in customer funds on Optimism-based decentralized exchange (<a href=\"https:\/\/cryptoslate.com\/glossary\/dex\/\">DEX<\/a>) Perpetual Protocol.<\/p>\n<p>In a Nov. 9 <a href=\"https:\/\/x.com\/ChainLight_io\/status\/1722649756852462051?s=20\">post<\/a> on social media platform X (formerly Twitter), Chainlight detailed how it reported a critical bug in Perpetual Protocol's &#8220;AccountBalance&#8221; contract last year. According to the firm, the contract is a pivotal component that &#8220;serves as the protocol's brain for calculating position values.&#8221;<\/p>\n<p>The vulnerability posed a severe threat to the DEX, placing the entire $32 million <a href=\"https:\/\/cryptoslate.com\/coins\/usd-coin\/\">USDC<\/a> held by the protocol at risk of being misappropriated.<\/p>\n<p>This flaw had the potential to allow bad actors to swiftly move the entire $32 million within a five-minute timeframe, leaving the protocol with insufficient time to deploy effective security measures.<\/p>\n<p>The <a href=\"https:\/\/cryptoslate.com\/optimism-hacker-confirms-they-are-whitehat-returns-most-of-stolen-funds\/\">white-hat hacker<\/a> detailed that an attacker could manipulate asset prices through a pump-and-dump strategy, exploiting volatile price actions to place position orders outside the permissible range and immediately profit, resulting in the protocol's bad debt.<\/p>\n<p>In acknowledgment of its efforts, Chainlight said it got $10,000 worth of Perpetual Protocol's native <a href=\"https:\/\/cryptoslate.com\/coins\/perpetual-protocol\/\">PERP<\/a> tokens.<\/p>\n<h2>Perpetual Protocol's low bounty draws critics<\/h2>\n<p>The $10,000 bounty has generated several reactions from the crypto community, who argue it was insufficient considering the protected amount.<\/p>\n<p>Trust, the head of security at blockchain auditing firm TrustSec, <a href=\"https:\/\/x.com\/trust__90\/status\/1722673279456989527?s=20\">labeled<\/a> the reward as another instance of a bounty scam, asserting that it did not adequately reflect the gravity of the situation.<\/p>\n<p>Protocol Specialist at <a href=\"https:\/\/cryptoslate.com\/companies\/coinbase\/\">Coinbase<\/a>,\u00a0Viktor Bunin, also <a href=\"https:\/\/x.com\/ViktorBunin\/status\/1722730489843273852?s=20\">questioned<\/a> why the bounty was so low.<\/p>\n<p>Juancito, a blockchain security researcher, <a href=\"https:\/\/x.com\/0xJuancito\/status\/1722706607765602770?s=20\">criticized<\/a> the meager bounty offer, suggesting that white-hat hackers' contributions to the ecosystem are not appropriately valued.<\/p>\n<p>Similarly, Blurpoint <a href=\"https:\/\/x.com\/SafuNotSifu\/status\/1722820341100347866?s=20\">noted<\/a> that white-hat efforts often go unappreciated, emphasizing the importance of acknowledging and adequately compensating these contributions.<\/p>\n<p>Web3 security expert CryptoBandit <a href=\"https:\/\/x.com\/banditx0x\/status\/1722689053265727624?s=20\">shared<\/a> a comparable experience, recounting how he shared a critical vulnerability that could have led to $40 million in losses with the DEX but only got $30,000 as bounty rewards.<\/p>\n<p>This situation underscores the challenges white-hat hackers face within the industry, as they are not properly <a href=\"https:\/\/cryptoslate.com\/white-hat-hacker-grumbles-over-arbitrum-bounty-reward-after-saving-network-from-475m-loss\/\">incentivized to help crypto platforms<\/a> expose vulnerabilities within their codes.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Blockchain security firm Chainlight said it received a $10,000 bounty for uncovering a potential vulnerability that could have jeopardized $32 million in customer funds on Optimism-based decentralized exchange (DEX) Perpetual Protocol. In a Nov. 9 post on social media platform X (formerly Twitter), Chainlight detailed how it reported a critical bug in Perpetual Protocol&#8217;s &#8220;AccountBalance&#8221; [&hellip;]<\/p>\n","protected":false},"author":720,"featured_media":372876,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[79057,79054,76917],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>$32M vulnerability in Perpetual Protocol uncovered by Chainlight nets $10k in white hat rewards<\/title>\n<meta name=\"description\" content=\"Crypto security researchers have criticized the bounty rewards for being too low relative to the potential losses averted.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/32-million-vulnerability-in-perpetual-protocol-uncovered-by-chainlight-nets-10k-white-hat-reward\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"$32M vulnerability in Perpetual Protocol uncovered by Chainlight nets $10k in white hat rewards\" \/>\n<meta property=\"og:description\" content=\"Crypto security researchers have criticized the bounty rewards for being too low relative to the potential losses averted.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/32-million-vulnerability-in-perpetual-protocol-uncovered-by-chainlight-nets-10k-white-hat-reward\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2023-11-10T15:30:22+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-11-10T15:23:18+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/11\/white-hat-bug.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Oluwapelumi Adejumo\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Oluwapelumi Adejumo\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/32-million-vulnerability-in-perpetual-protocol-uncovered-by-chainlight-nets-10k-white-hat-reward\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/32-million-vulnerability-in-perpetual-protocol-uncovered-by-chainlight-nets-10k-white-hat-reward\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#person\",\"name\":\"Oluwapelumi Adejumo\",\"url\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/12\/profile-photo-oluwapelumi-adejumo-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/12\/profile-photo-oluwapelumi-adejumo-300x300.jpg\",\"caption\":\"Oluwapelumi Adejumo\"},\"jobTitle\":\"Senior Reporter\",\"description\":\"Oluwapelumi values Bitcoin's potential. 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