Alisa Davidson
Printed: August 04, 2025 at 10:45 am Up to date: August 04, 2025 at 7:40 am
Edited and fact-checked:
August 04, 2025 at 10:45 am
In Temporary
HackenProof CEO Dmytro Matviiv emphasised on the Hack Seasons Convention that whereas Web3 assaults have gotten extra complicated, bug bounties and AI integration provide highly effective instruments to boost cybersecurity and deal with evolving threats.
CEO of HackenProof, Dmytro Matviiv spoke on the Hack Seasons Convention in Cannes on July third about developments in Web3 safety, the evolving menace panorama, and the position of AI in cybersecurity.
HackenProof actively collaborates with a number of Layer 1 and Layer 2 protocols corresponding to Ethereum Basis, Sui, Aptos, Close to, and cryptocurrency exchanges, together with Bybit, and Gate, amongst others. They interact the safety group to determine vulnerabilities, and upon validation of submitted experiences, compensate safety researchers accordingly. This course of operates inside a bug bounty and crowdsourced safety mannequin.
Evolving Cybersecurity Panorama: Rising Complexity Of Assaults, Bug Bounty Effectiveness, And Safety Challenges In Rising Ecosystems
In keeping with Dmytro Matviiv, in HackenProof inner analysis is performed on a steady foundation, with quarterly experiences launched to trace developments within the cybersecurity panorama. Over the previous two years, the variety of reported hacks has declined, however the complexity of those incidents has elevated. Within the present quarter alone, over $2 billion has been siphoned by means of varied assaults. Many of those incidents look like premeditated, with some people probably working inside organizations for prolonged durations earlier than abandoning backdoors and later executing coordinated assaults. A notable pattern noticed is the involvement of state-sponsored actors, significantly from North Korea, which presents challenges for enforcement and extradition, even when the identities of the perpetrators are recognized.
Nonetheless, many firms provide aggressive bug bounty applications. For malicious actors, it may be extra helpful to report vulnerabilities by means of official channels and obtain authorized compensation—generally amounting to a whole bunch of 1000’s and even hundreds of thousands of {dollars}—reasonably than exploiting these vulnerabilities, believes Dmytro Matviiv. In distinction, insufficient bounty constructions could discourage accountable disclosure. For instance, in a case involving Bybit, the utmost payout for a essential vulnerability on the corporate’s web site was set at $4,000. A researcher exploited a vulnerability and triggered a $1.3 billion loss. This raises the argument that providing a bounty equal to even 10% of the potential injury may function a simpler preventative measure.
“So if an organization decides to legalize the bug bounty course of, firms and researchers will definitely submit experiences to assist uncover these vulnerabilities,” highlighted Dmytro Matviiv.
Lately, one other safety incident occurred involving the Cetus protocol, which operates throughout the Sui ecosystem. Observations point out that the Sui ecosystem continues to expertise a variety of safety challenges, partly resulting from its quick growth and rising exercise. The ecosystem maintains a big and engaged workforce and has proven a powerful dedication to safety by means of frequent bug bounty applications, contests, and audits. Regardless of the latest breach, Cetus is continuing with a brand new bug bounty initiative in collaboration with HackenProof, scheduled for the next week. General, the Sui ecosystem stays energetic and responsive in addressing vulnerabilities.
“I consider Sui is without doubt one of the ecosystems that’s nonetheless fairly younger. They’ve a brand new language, which mixes Transfer and Rust, and there’s a lot of doubtless dangerous code the place vulnerabilities is perhaps discovered — that is why there are presently many points within the Sui ecosystem. Nonetheless, it’s a very promising ecosystem, and many individuals are even shopping for their tokens. We consider this ecosystem will certainly take safety to the following stage.”
Integration Of AI Brokers In Cybersecurity: Enhancing Automation Whereas Managing Dangers
AI and decentralization are presently extensively mentioned subjects throughout the know-how and cybersecurity sectors. HackenProof is actively participating with these developments as a part of its operational focus.
In some circumstances, safety auditors create AI brokers to carry out duties historically dealt with by people, corresponding to figuring out safety points throughout varied bug bounty platforms. HackenProof helps such safety firms by helping within the validation of experiences generated by these AI brokers.
“For instance, these AI brokers can scan a repository and generate 200 experiences, and we validate them to find out whether or not every report is legitimate,” illustrated Dmytro Matviiv.
One other instance is using AI brokers to help in detecting and organizing incoming experiences submitted to HackenProof. These AI brokers contribute to course of automation; nevertheless, the standard and reliability of the end result are extremely depending on the accuracy of the enter knowledge.
“Let’s say in the event you totally belief the AI agent and somebody inputs incorrect knowledge, that might set off an motion—for instance, the AI agent may switch cash from one account to a different, and so forth. So it is vitally harmful,” famous Dmytro Matviiv. “It’s important to isolate the AI setting and work solely with the precise circumstances you perceive, and be certain that the AI agent has been publicly verified as a confirmed one,” he added.
Final yr noticed a number of funding in AI growth, together with the emergence of Layer 1 AI protocols. At present, AI has turn out to be an vital part for a lot of firms, and people that don’t combine AI growth into their processes could danger shedding market relevance or enterprise alternatives inside six months or later.
“For positive, AI needs to be part of your online business processes and, at minimal, assist you to perceive what sorts of enterprise alternatives you may miss. AI can also be prone to turn out to be one of many largest safety threats for each firm,” Dmytro Matviiv concluded.
Disclaimer
According to the Belief Undertaking pointers, please notice that the knowledge offered on this web page will not be meant to be and shouldn’t be interpreted as authorized, tax, funding, monetary, or some other type of recommendation. It is very important solely make investments what you’ll be able to afford to lose and to hunt unbiased monetary recommendation when you’ve got any doubts. For additional info, we advise referring to the phrases and situations in addition to the assistance and help pages offered by the issuer or advertiser. MetaversePost is dedicated to correct, unbiased reporting, however market situations are topic to alter with out discover.
About The Writer
Alisa, a devoted journalist on the MPost, makes a speciality of cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a eager eye for rising developments and applied sciences, she delivers complete protection to tell and interact readers within the ever-evolving panorama of digital finance.
Extra articles
Alisa Davidson
Alisa, a devoted journalist on the MPost, makes a speciality of cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a eager eye for rising developments and applied sciences, she delivers complete protection to tell and interact readers within the ever-evolving panorama of digital finance.
Extra articles
