Bug bounty platform Immunefi has reportedly rolled out its Whitehat Leaderboard – a scoring system displaying the top 20 most elite white hats in Web3. 

Specifically, the rank aimed at measuring a given white hat’s skills and status during Immunefi’s security community, as revealed by the firm at the Web Summit on Nov 4. 

A white hat hacker is reportedly known as an individual who singles out security vulnerabilities via running testings for an organization’s information technology security. 

In Immunefi’s community, the top 10 white hats alone have accumulated more than $42 million in total earnings via revealing critical vulnerabilities which have helped them secure major bounty payments in the software sphere.

In the leaderboard, white hats will be classified on a daily basis regarding the number and severity of paid reports, along with overall earnings made. 

The hackers in Immunefi’s community reviews projects’ blockchain and smart contract code, disclosing vulnerabilities and being paid for it. The rewards will be dependent on the severity of the vulnerability discovered.

“As the volume of saved funds continues to grow, the leaderboard is another opportunity to give our white hats the recognition they deserve, as well as to encourage them to keep pushing the boundaries to make the web3 ecosystem safer.” Mitchell Amador, founder and CEO at Immunefi, additionally remarked regarding the update. 

Per the firm, white hats who made it into the ranking on the leaderboard will also be chosen to earn extra rewards, all-expenses-paid trips, exclusive merch, as well as chances to give out speeches on a regular manner. 

Established two years ago, Immunefi shared that it had saved more than $25 billion in user funds and paid out over $62 million in bounties. At the moment, the platform offers facilitating features for 300 initiatives throughout numerous crypto aspects, assisting the sector in players save funds stored in smart contracts.