Usual teams up with Sherlock to launch the biggest bug bounty in crypto history

Stablecoin protocol Usual has partnered with blockchain security firm Sherlock to launch a $16 million bug bounty, surpassing Uniswap’s $15.5 million bounty, which was previously the largest in the industry.

Usual has partnered with Sherlock to launch a $16 million bug bounty aimed at identifying critical vulnerabilities in its codebase, as originally reported by The Block. The bounty, hosted on Sherlock’s platform, will only reward findings that pose a definite and significant risk of fund loss or freezing for over a year, without external conditions.

Usual’s codebase has already undergone 20 audits, including a recent Sherlock audit contest with a $209,000 prize pool, with no vulnerabilities found.

High-value bug bounties are becoming a trend in crypto security. Recently, Sonic Labs teamed up with Immunefi to offer a $2 million bounty, while Compound Finance launched a $1 million program, also with partnership with Immunefi.

In November 2024, Uniswap Labs (UNI) launched a $15.5 million bug bounty—previously the largest in the industry. However, Usual’s $16 million bounty now stands as the biggest to date.

“With over $880 million in TVL, this record-breaking bounty prize is a powerful statement from Usual showing their dedication to the security of their protocol,” the projects told The Block.