TechFlow News, May 14: According to The Block, smart contract auditing platform Code4rena announced it will gradually cease operations, and Web3 security firm Immunefi will assume responsibility for its bug bounty clients and security researchers. Code4rena stated that all ongoing contests and bounty programs will be completed as scheduled, and existing partnerships will be wound down appropriately. Immunefi noted it will assist relevant protocols in migrating their bug bounty scopes, rules, and reward structures.
Code4rena is known for its “competitive auditing” model, under which researchers earn rewards by identifying vulnerabilities in smart contracts. The platform raised $6 million from Paradigm in 2023 and was acquired by Zellic in 2024.
