LayerZero Labs has teamed up with bug bounty and security services platform Immunefi to launch a record high $15 million bug bounty program for critical smart contract and blockchain vulnerabilities related to the company’s protocol. LayerZero Labs is the creator of the LabZero blockchain messaging protocol that facilitates secure communication across thirty (30) different blockchains, having enabled the exchange of 10,000,000 messages. Unlike other messaging platforms like WhatsApp and Telegram, LayerZero eliminates the need for intermediaries, allowing users to send messages between blockchains such as cross-chain interactions. The crypto ecosystem has lost around $9.33 billion to exploits, hacks, and scams. CEO and co-founder, Bryan Pellegrino, said “the security protocol comes before anything else” and that they “have enough money to pay out plenty of bounties.” LayerZero is currently valued at $3 billion, having seen transaction volumes of over $15 billion since launching fourteen (14) months ago. The company has set out different payout tiers based on the severity level of the findings and impacted blockchains. For the higher-paying group of discoveries, the maximum payout is $15,000,000 for critical vulnerabilities, $250,000 for high-severity flaws, $25,000 for medium-severity vulnerabilities, and $10,000 for low-severity issues.