News for hackers. Stuff that matters.
Re:White hat hacker awarded $2M for fixing ETH-creation bug by saurik on Sunday February 13, 2022 @01:13PM (#30323995)
So, while I knew that this had been offered in back channels, I failed to realize that this was not only confirmed to me in e-mail as well as publicly announced: Boba (one of the forks of Optimism that was affected by this same bug) has additionally extended to me their maximum bug bounty reward of $100k, making the "updated total" awarded for this bug (so far ;P) $2,100,042 (which more firmly might be setting a new record).

https://twitter.com/bobanetwork/status/1491989915336388618?s...

Re:White hat hacker awarded $2M for fixing ETH-creation bug by Terry_Roll on Sunday February 13, 2022 @11:43PM (#30328440)
Still not alot of money compared to what banks spend sorting out problems today.

So I was the coder for a payroll system for those paid out of the channel islands, in 2008, day after boxing day I was asked to add 3 more digits to the payroll system so a trader could be paid a bonus. That system moved alot of money all around the world.

Another example of costs. $81million nicked from Federal Reserve Bank of New York. https://www.reuters.com/article/us-cyber-heist-bangladesh-id...

Here is an example of what has to be paid out when things go wrong, it was made into a film, adjust for inflation and quantitative easing.

https://en.wikipedia.org/wiki/Nick_Leeson#Downfall_and_impri... https://www.imdb.com/title/tt0131566/

Best office I have seen is Nomura's directors office in London. You could fit a house in it!

Re:White hat hacker awarded $2M for fixing ETH-creation bug by antishatter on Sunday February 13, 2022 @11:31PM (#30328380)
Not to be “that guy” but make sure you get an accountant to help you avoid like a $1m tax liability to the extent it is possible.

Probably a lot you can do.

Re:White hat hacker awarded $2M for fixing ETH-creation bug by sillysaurusx on Monday February 14, 2022 @08:22AM (#30331668)
Which tax liability? That’s news to me.
Re:White hat hacker awarded $2M for fixing ETH-creation bug by anchpop on Tuesday February 15, 2022 @01:43PM (#30350807)
Any income is subject to taxes in the US
Re:White hat hacker awarded $2M for fixing ETH-creation bug by sillysaurusx on Wednesday February 16, 2022 @03:03AM (#30357449)
Yeah, but 50%?
Re:White hat hacker awarded $2M for fixing ETH-creation bug by antishatter on Saturday February 26, 2022 @12:52PM (#30479879)
Yeah a prize like this will be close to 50%. If you’re w2 remember that your employer covers like 25% of your tax burden. So when you self employee or win an award like this you end up paying that tax plus the tax your more used to.