Usual Launches $16 Million Bug Bounty in Partnership with Sherlock, Breaking Crypto Records

Usual, a stablecoin protocol, has broken the record for the largest bug bounty in crypto history by launching a $16 million reward program in collaboration with blockchain security firm Sherlock. This move surpasses Uniswap’s previous record of $15.5 million, set in 2024.

The $16 million bounty aims to uncover critical vulnerabilities in Usual’s codebase, with the focus being on issues that could lead to significant risks such as fund loss or freezing for over a year. The bounty is hosted on Sherlock’s platform, and only high-impact vulnerabilities will be rewarded. Usual’s code has already undergone 20 audits, including a recent audit contest hosted by Sherlock with a $209,000 prize pool, which found no vulnerabilities.

The trend of high-value bug bounties in the crypto industry is growing, with other notable efforts such as Sonic Labs’ $2 million bounty and Compound Finance’s $1 million program, both in partnership with Immunefi.

With over $880 million in Total Value Locked (TVL), Usual’s new $16 million bounty represents a major commitment to security, sending a clear message about the protocol’s dedication to ensuring the safety of its platform.